Deal with a $4.5 million greenshoe to be conducted by Dougherty & Co.
By Devika Patel
Knoxville, Tenn., April 18 - Diversified Restaurant Holdings, Inc. priced a $30 million public offering of stock with a $4.5 million greenshoe in an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced April 17.
The company will sell 6 million common shares at $5.00 apiece. The price per share is identical to the April 16 closing share price.
Dougherty & Co. LLC is the sole bookrunning manager and lead underwriter.
Settlement is expected April 23.
The owner, operator and franchisor of full-service restaurants Bagger Dave's Legendary Burger Tavern and Buffalo Wild Wings is based in Southfield, Mich.
| Issuer: | Diversified Restaurant Holdings, Inc.
|
| Issue: | Common shares
|
| Amount: | $30 million
|
| Greenshoe: | $4.5 million
|
| Shares: | 6 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Bookrunner: | Dougherty & Co. LLC
|
| Co-manager: | Feltl and Co., Inc.
|
| Announcement date: | April 3
|
| Pricing date: | April 17
|
| Settlement date: | April 23
|
| Stock symbol: | Nasdaq: BAGR
|
| Stock price: | $5.00 at close on April 16
|
| Market capitalization: | $105.37 million
|
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