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Ruby Tuesday to repay some loans by selling up to $89.36 million stock
By Susanna Moon
Chicago, July 20 - Ruby Tuesday Inc. will repay some of the debt outstanding under its revolving credit facility using proceeds from the sale of $77.7 million of stock, according to a 424B5 filing with the Securities and Exchange Commission.
Underwriters have a greenshoe for $11,655,000, bringing the total possible issue to $89,355,000.
The company registered to sell up to 10 million shares at $7.77 per share, with an over-allotment option for an additional 1.5 million shares.
Ruby Tuesday estimated the amount of proceeds based on the company's closing price of $7.77 (NYSE: RT) per share on Thursday
The issuer is a Maryville, Tenn.-based developer, operator and franchiser of casual dining restaurants.
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