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Published on 1/14/2015 in the Prospect News PIPE Daily.

Chanticleer aims for $14 million through rights sale of common shares

Source Capital raises funds for operations until company is in black

By Devika Patel

Knoxville, Tenn., Jan. 14 – Chanticleer Holdings, Inc. plans to price a rights offering, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission. The company is registering up to $14 million of common stock for this sale.

Source Capital Group, Inc. is the dealer-manager.

Proceeds will be used for general corporate purposes, including acquisitions, growth, working capital, capital expenditures and operations until the company becomes cash-flow positive from operations.

The Charlotte, N.C., company operates Hooters franchises.


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