Good Times Restaurants Announces Final Results of Tender Offer
September 14 2021 - 4:15PM
Business Wire
Good Times Restaurants Inc. (Nasdaq: GTIM) (the “Company”),
operator of Bad Daddy’s Burger Bar and Good Times Burgers &
Frozen Custard, today announced the final results of its cash
tender offer to purchase up to 1,413,000 shares of its common stock
at a price per share of $4.60. The tender offer expired at 11:59
p.m., New York City time, on September 10, 2021.
In accordance with the terms and conditions of the tender offer
and based on the final count by Broadridge Corporate Issuer
Solutions, Inc., the depositary for the tender offer, the Company
accepted for payment, at a purchase price of $4.60 per share, a
total of 333,241 shares properly tendered and not properly
withdrawn before the expiration date, at an aggregate cost of
approximately $1,532,908, excluding fees and expenses relating to
the tender offer. The shares purchased represent approximately 2.6%
of the Company’s common stock issued and outstanding as of
September 13, 2021.
Payment for the shares accepted for purchase pursuant to the
tender offer will occur promptly.
Shareholders who have questions or would like additional
information about the tender offer may contact the information
agent for the tender offer, Alliance Advisors, LLC, at (855)
742-8271, Email: reorg@allianceadvisors.com.
About Good Times Restaurants Inc.: Good Times Restaurants
Inc. owns, operates, franchises and licenses 41 Bad Daddy’s Burger
Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s
Burger Bar is a full-service “small box” restaurant concept
featuring a chef-driven menu of gourmet signature burgers, chopped
salads, appetizers and sandwiches with a full bar and a focus on a
selection of local and craft beers in a high-energy atmosphere that
appeals to a broad consumer base. Additionally, Good Times
Restaurants Inc. operates and franchises a regional quick-service
drive-thru restaurant chain consisting of 32 Good Times Burgers
& Frozen Custard restaurants located primarily in Colorado.
Forward-Looking Information
Certain statements and information included in this press
release constitute "forward-looking statements." Such
forward-looking statements include statements that look forward in
time or express management’s beliefs, expectations or hopes. In
particular, such statements include, without limitation, our belief
regarding the timing of payments pursuant to the tender offer.
These statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results to be materially
different from any future results, performance or achievements
expressed or implied in such forward-looking statements.
These risks include risks impacting our business in general,
such as the disruption to our business from the novel coronavirus
(COVID-19) pandemic and the impact of the pandemic on our results
of operations, financial condition and prospects, which may vary
depending on the duration and extent of the pandemic and the impact
of federal, state and local governmental actions and customer
behavior in response to the pandemic, the impact and duration of
staffing constraints at our restaurants, the uncertain nature of
current restaurant development plans and the ability to implement
those plans and integrate new restaurants, delays in developing and
opening new restaurants because of weather, local permitting or
other reasons, increased competition, cost increases or shortages
in raw food products, and other matters discussed under the Risk
Factors section of Good Times’ Annual Report on Form 10-K for the
fiscal year ended September 29, 2020 filed with the SEC, and other
filings with the SEC. Good Times disclaims any obligation or duty
to update or modify these forward-looking statements.
Category: Financial
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version on businesswire.com: https://www.businesswire.com/news/home/20210914005904/en/
Good Times Restaurants Inc Ryan M. Zink, President and
Chief Executive Officer (303) 384-1411 Christi Pennington (303)
384-1440
Good Times Restaurants (NASDAQ:GTIM)
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