Del Taco Announces Results of Warrant Exchange Offer
09 Agosto 2016 - 3:00PM
Business Wire
Del Taco Restaurants, Inc. (Nasdaq:TACO)(Nasdaq:TACOW) (the
“Company,” “we” or “our”) today announced the results of its
previously announced offer to exchange (“Offer to Exchange”) 0.2780
shares of the Company’s common stock (“Shares”) for each
outstanding Company warrant exercisable for Shares at an exercise
price of $11.50 per Share (the “Warrants”) (approximately
one Share for every 3.6 Warrants tendered). The Offer to Exchange
expired at 11:59 p.m., Eastern time, on August 8, 2016. Based on
information provided by Continental Stock Transfer & Trust
Company, the depositary for the Offer to Exchange, a total of
5,516,243 Warrants were properly tendered and not properly
withdrawn prior to the expiration of the exchange offer, including
254,258 Warrants that were tendered through notice of guaranteed
delivery. The Company accepted for exchange all such Warrants and
will issue an aggregate of approximately 1,533,520 Shares in
exchange for the Warrants tendered, representing approximately 4%
of the Shares outstanding after such issuance. Delivery of the
Shares to be issued in exchange for the Warrants will be made
promptly.
After completion of the Offer to Exchange, 6,646,574 Warrants
remain outstanding. The Warrants will expire on June 30, 2020,
unless sooner exercised or redeemed by the Company in accordance
with the terms of the Warrants.
Morrow Sodali acted as the Information Agent for the Offer to
Exchange. For questions and information, please call the
Information Agent toll-free at (855) 291-6792 (banks and brokerage
firms, please call (203) 658-9400).
About Del Taco Restaurants, Inc.
Founded in 1964 in Southern California, Del Taco (NASDAQ:TACO)
is the nation’s second largest Mexican Quick Service Restaurant
chain. Known for serving Mexican and American favorites prepared
fresh in every restaurants’ working kitchen, Del Taco’s menu items
taste better because they are made with fresh ingredients like
cheddar cheese grated from 40-lb blocks, hand chopped pico de
gallo, fresh sliced avocado, slow cooked beans made from scratch,
and fresh-grilled marinated chicken and carne asada steak. In June
2016, Del Taco reinvigorated its UnFreshing Believable® marketing
campaign to further communicate its commitment to serve guests
everything that they love, including choosing not to choose between
tacos and fries, fresh prep and fair price, or great tasting food
and the convenience of a drive thru. With nearly 550 restaurants in
16 states, Del Taco serves more than three million guests each
week. For more information, follow Del Taco on Twitter, Facebook
and Instagram or visit www.deltaco.com.
Forward-Looking Statements
In addition to historical information, this release may contain
a number of “forward-looking statements” as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, information concerning
completion of the Offer to Exchange, the Company’s possible or
assumed future results of operations, business strategies,
competitive position, industry environment, potential growth
opportunities and the effects of regulation. These statements are
based on the Company’s management’s current expectations and
beliefs, as well as a number of assumptions concerning future
events. When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “target,” “may,” “will,” “should,”
“future,” “propose,” “preliminary,” “guidance” and variations of
these words or similar expressions (or the negative versions of
such words or expressions) are intended to identify forward-looking
statements. Such forward-looking statements are subject to known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the Company’s management’s
control that could cause actual results to differ materially from
the results discussed in the forward-looking statements. These
risks include, without limitation, consumer demand, our inability
to successfully open company-owned or franchised restaurants or
establish new markets, competition in our markets, our inability to
grow and manage growth profitably, adverse changes in food and
supply costs, our inability to access additional capital, changes
in applicable laws or regulations, food safety and foodborne
illness concerns, our inability to manage existing and to obtain
additional franchisees, our inability to attract and retain
qualified personnel, our inability to profitably expand into new
markets, changes in, or the discontinuation of, the Company’s stock
and Warrant repurchase program, and the possibility that we may be
adversely affected by other economic, business, and/or competitive
factors. Additional risks and uncertainties are identified and
discussed in the Company’s reports filed with the SEC and available
at the SEC’s website at www.sec.gov and the Company’s website at
www.deltaco.com.
Forward-looking statements included in this release speak only
as of the date of this release. The Company undertakes no
obligation to update its forward-looking statements to reflect
events or circumstances after the date of this release or
otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160809005825/en/
For Del Taco Restaurants, Inc.Media:Julia Young,
646-277-1280julia.young@icrinc.comorInvestor Relations:Raphael
Gross, 203-682-8253investor@deltaco.com
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