HOUSTON, Sept. 13, 2018 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) today announced debt
financing commitments to fund the closing of two recently announced
nightclub acquisitions. The commitments include a $5.0 million unsecured bank term loan and
additional third-party debt financing.
"Along with cash on hand, these commitments will ensure there is
adequate capital to fund recent expansion announcements without the
need to issue new equity or equity-linked debt," said Eric Langan, President & CEO of RCI.
As previously reported, RCI subsidiaries have signed definitive
agreements to acquire ownership of Blush Gentlemen's Club &
Sports Bar in Pittsburgh and
related real estate, and ownership of VIP's Gentlemen's Club in
Chicago and related real
estate.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With more than 40 units, RCI Hospitality Holdings, Inc., through
its subsidiaries, is the country's leading company in gentlemen's
clubs and sports bars/restaurants. Clubs in New York City, Miami, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, St.
Louis, and other markets operate under brand names such as
Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie's
Cabaret, and Scarlett's Cabaret. Sports bars/restaurants operate
under the brand name Bombshells Restaurant & Bar. Please visit
http://www.rcihospitality.com.
Forward-Looking Statements
This press release may contain forward-looking statements that
involve a number of risks and uncertainties that could cause the
company's actual results to differ materially from those indicated
in this press release, including the risks and uncertainties
associated with operating and managing an adult business, the
business climates in cities where it operates, the success or lack
thereof in launching and building the company's businesses, risks
and uncertainties related to cybersecurity, conditions relevant to
real estate transactions, and numerous other factors such as laws
governing the operation of adult entertainment businesses,
competition and dependence on key personnel. The company has no
obligation to update or revise the forward-looking statements to
reflect the occurrence of future events or circumstances.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or
gary.fishman@anreder.com and steven.anreder@anreder.com
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SOURCE RCI Hospitality Holdings, Inc.