New Issue: Main Street Restaurant raises $5 million in private placement of stock

By Sheri Kasprzak

Atlanta, May 4 - Main Street Restaurant Group, Inc. said it has wrapped a private placement of stock for $5 million.

The company sold 2,325,581 shares at $2.11 each to CIC MSRG LP.

The investor also received warrants for 581,395 shares, exercisable at $3.01 each from Nov. 27, 2005 through Nov. 27, 2010.

Based in Phoenix, Main Street is a holding company for chains of casual dining restaurants.

Issuer:	Main Street Restaurant Group, Inc.
Issue:	Stock
Amount:	$5 million
Shares:	2,325,581
Price:	$2.15
Warrants:	For 581,395 shares
Warrant expiration:	Nov. 27, 2010
Warrant strike price:	$3.01
Investor:	CIC MSRG LP
Settlement date:	April 28
Stock price:	$2.45 at close April 28

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