BJ's Restaurants, Inc. Announces $61.5 Million Private Placement of Common Stock
November 17 2006 - 8:00AM
Business Wire
BJ�s Restaurants, Inc. (NASDAQ:BJRI) today announced that it has
entered into a definitive agreement for the private placement of
$61.5 million of common stock with several new and existing
institutional investors. The transaction involved the sale of
3,075,000 shares of common stock at a purchase price of $20.00 per
share. The Company intends to use the net proceeds from the
placement to fund its restaurant expansion plan and for other
general corporate purposes. RBC Capital Markets acted as lead
placement agent and CIBC World Markets acted as co-placement agent
for the offering. �This new equity capital will further strengthen
our balance sheet and provide us with additional financial
flexibility to support the continued execution of our restaurant
growth plan,� said Jerry Deitchle, President and CEO. �We remain
committed to careful, controlled and profitable growth in both
established and new markets, and we also remain committed to
operating our restaurants at a gold standard level for our segment.
We believe the best years for our Company are yet to come.� The
shares of Common Stock to be sold to the investors have not been
registered under the Securities Act of 1933. Accordingly, these
securities may not be offered or sold in the United States, except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act.
BJ�s Restaurants, Inc. has agreed to file a registration statement
covering resale of these securities by the investors. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy the Common Stock. BJ's Restaurants, Inc.
currently owns and operates 55 casual dining restaurants under the
BJ's Restaurant and Brewery, BJ's Restaurant and Brewhouse or BJ's
Pizza & Grill brand names. BJ's restaurants offer an innovative
and broad menu featuring award-winning, signature deep-dish pizza
complemented with generously portioned salads, sandwiches, soups,
pastas, entrees and desserts. Quality, flavor, value, moderate
prices and sincere service remain distinct attributes of the BJ's
experience. The Company operates eleven microbreweries which
produce and distribute BJ's critically acclaimed handcrafted beers
throughout the chain. The Company's restaurants are located in
California (35), Texas (8), Arizona (4), Colorado (3), Oregon (3)
and Nevada (2). The Company also has a licensing interest in a BJ's
restaurant in Lahaina, Maui. Visit BJ's Restaurants, Inc. on the
web at http://www.bjsrestaurants.com. Certain statements in the
preceding paragraphs and all other statements that are not purely
historical constitute "forward-looking statements" for purposes of
the Securities Act of 1933 and the Securities Exchange Act of 1934,
as amended, and are intended to be covered by the safe harbors
created thereby. These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause
actual results to be materially different from those projected or
anticipated. Factors that might cause such differences include, but
are not limited to: (i) our ability to manage an increasing number
of new restaurant openings, (ii) construction delays, (iii) labor
shortages, (iv) minimum wage increases, (v) food quality and health
concerns, (vi) factors that impact California, where 35 of our
current 55 restaurants are located, (vii) restaurant and brewery
industry competition, (viii) impact of certain brewery business
considerations, including without limitation, dependence upon
suppliers and related hazards, (ix) consumer trends, (x) potential
uninsured losses and liabilities, (xi) fluctuating commodity costs,
including food and energy, (xii) trademark and servicemark risks,
(xiii) government regulations, (xiv) licensing costs, (xv) beer and
liquor regulations, (xvi) loss of key personnel, (xvii) inability
to secure acceptable sites, (xviii) limitations on insurance
coverage, (xix) legal proceedings, (xx) other general economic and
regulatory conditions and requirements, (xxi) and numerous other
matters discussed in the Company's filings with the Securities and
Exchange Commission. BJ's Restaurants, Inc. undertakes no
obligation to update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
BJ's Restaurants, Inc. (NASDAQ:BJRI) today announced that it has
entered into a definitive agreement for the private placement of
$61.5 million of common stock with several new and existing
institutional investors. The transaction involved the sale of
3,075,000 shares of common stock at a purchase price of $20.00 per
share. The Company intends to use the net proceeds from the
placement to fund its restaurant expansion plan and for other
general corporate purposes. RBC Capital Markets acted as lead
placement agent and CIBC World Markets acted as co-placement agent
for the offering. "This new equity capital will further strengthen
our balance sheet and provide us with additional financial
flexibility to support the continued execution of our restaurant
growth plan," said Jerry Deitchle, President and CEO. "We remain
committed to careful, controlled and profitable growth in both
established and new markets, and we also remain committed to
operating our restaurants at a gold standard level for our segment.
We believe the best years for our Company are yet to come." The
shares of Common Stock to be sold to the investors have not been
registered under the Securities Act of 1933. Accordingly, these
securities may not be offered or sold in the United States, except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act.
BJ's Restaurants, Inc. has agreed to file a registration statement
covering resale of these securities by the investors. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy the Common Stock. BJ's Restaurants, Inc.
currently owns and operates 55 casual dining restaurants under the
BJ's Restaurant and Brewery, BJ's Restaurant and Brewhouse or BJ's
Pizza & Grill brand names. BJ's restaurants offer an innovative
and broad menu featuring award-winning, signature deep-dish pizza
complemented with generously portioned salads, sandwiches, soups,
pastas, entrees and desserts. Quality, flavor, value, moderate
prices and sincere service remain distinct attributes of the BJ's
experience. The Company operates eleven microbreweries which
produce and distribute BJ's critically acclaimed handcrafted beers
throughout the chain. The Company's restaurants are located in
California (35), Texas (8), Arizona (4), Colorado (3), Oregon (3)
and Nevada (2). The Company also has a licensing interest in a BJ's
restaurant in Lahaina, Maui. Visit BJ's Restaurants, Inc. on the
web at http://www.bjsrestaurants.com. Certain statements in the
preceding paragraphs and all other statements that are not purely
historical constitute "forward-looking statements" for purposes of
the Securities Act of 1933 and the Securities Exchange Act of 1934,
as amended, and are intended to be covered by the safe harbors
created thereby. These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause
actual results to be materially different from those projected or
anticipated. Factors that might cause such differences include, but
are not limited to: (i) our ability to manage an increasing number
of new restaurant openings, (ii) construction delays, (iii) labor
shortages, (iv) minimum wage increases, (v) food quality and health
concerns, (vi) factors that impact California, where 35 of our
current 55 restaurants are located, (vii) restaurant and brewery
industry competition, (viii) impact of certain brewery business
considerations, including without limitation, dependence upon
suppliers and related hazards, (ix) consumer trends, (x) potential
uninsured losses and liabilities, (xi) fluctuating commodity costs,
including food and energy, (xii) trademark and servicemark risks,
(xiii) government regulations, (xiv) licensing costs, (xv) beer and
liquor regulations, (xvi) loss of key personnel, (xvii) inability
to secure acceptable sites, (xviii) limitations on insurance
coverage, (xix) legal proceedings, (xx) other general economic and
regulatory conditions and requirements, (xxi) and numerous other
matters discussed in the Company's filings with the Securities and
Exchange Commission. BJ's Restaurants, Inc. undertakes no
obligation to update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
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