By Laura Lutz
Des Moines, Nov. 19 - Rick's Cabaret International, Inc. raised $16.31 million from a private placement of stock.
The company sold 1,165,000 common shares to institutional investors at $14.00 per share.
Merriman Curhan Ford & Co. was the placement agent.
Rick's is a Houston-based operator of gentlemen's clubs. The company will use the proceeds to buy an adult nightclub in the southeastern United States.
| Issuer: | Rick's Cabaret International, Inc.
|
| Issue: | Common shares
|
| Amount: | $16.31 million
|
| Shares: | 1,165,000
|
| Price: | $14.00
|
| Warrants: | No
|
| Agent: | Merriman Curhan Ford & Co.
|
| Announcement date: | Nov. 19
|
| Stock symbol: | Nasdaq: RICK
|
| Stock price: | $15.38 at close Nov. 16
|
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