Good Times Restaurants Inc. (NASDAQ: GTIM), owner of Good Times
Burgers & Frozen Custard, a regional quick-service restaurant chain
focused on fresh, high quality, all natural products and a licensee of
Bad Daddy’s Burger Bar, a full service, upscale concept, announced today
that it has commenced an underwritten registered public offering of up
to 2,375,000 shares of its common stock. All shares are being offered by
the Company. As part of the proposed offering, the Company has granted
the underwriters a 30-day option to purchase up to 356,250 additional
shares. The offering is subject to market conditions, and there can be
no assurance as to whether or when the offering may be completed, or as
to the actual size or terms of the offering. The Company plans to use
the proceeds received from the offering together with cash on hand for
the acquisition of Bad Daddy’s International, LLC and to fund additional
development of Good Times Burgers & Frozen Custard restaurants and Bad
Daddy’s Burger Bar restaurants.
Janney Montgomery Scott and Stephens, Inc. are acting as joint
book-running managers and Dougherty & Company is acting as lead manager
for the offering.
The offering is being made pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange Commission.
Shares of the Company’s common stock will be offered only pursuant to a
prospectus and prospectus supplement that form a part of the
registration statement, which are available on the SEC’s website www.sec.gov.
A printed copy of the prospectus and prospectus supplement relating to
the offering may be obtained by contacting Janney Montgomery Scott, c/o
Equity Syndicate, 60 State Street, 35th Floor, Boston, MA
02109, by telephone at 617-557-2971 or by e-mail at prospectus@janney.com;
Stephens Inc., c/o The Prospectus Department, by telephone at
501-377-2131 or by e-mail at prospectus@stephens.com;
or Dougherty & Company c/o Equity Syndicate, by telephone at
612-317-2152.
This release shall not constitute an offer to sell or the solicitation
of an offer to buy any of these securities, nor shall there be any sale
of these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state.
About Good Times Restaurants Inc.: Good Times Restaurants Inc.
(GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of
quick service restaurants located primarily in Colorado, in its wholly
owned subsidiary, Good Times Drive Thru Inc. Good Times provides a menu
of high quality all natural hamburgers, 100% all natural chicken
tenderloins, fresh frozen custard, fresh cut fries, fresh lemonades and
other unique offerings. Good Times currently operates and franchises 37
restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants as a licensee
through its wholly owned subsidiary, BD of Colorado LLC and plans to
franchise Bad Daddy’s Burger Bar restaurants through its 48% ownership
of Bad Daddy’s Franchise Development LLC. Bad Daddy’s Burger Bar is a
full service, upscale, “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 craft microbrew
beers in a high energy atmosphere that appeals to a broad consumer base.
Good Times Forward-Looking Statements: This press release
contains forward-looking statements within the meaning of federal
securities laws. The words “intend,” “may,” “believe,” “will,” “should,”
“anticipate,” “expect,” “seek” and similar expressions are intended to
identify forward-looking statements. These statements involve known and
unknown risks, which may cause the Company’s actual results to differ
materially from results expressed or implied by the forward-looking
statements. These risks include such factors as the uncertain nature of
current restaurant development plans and the ability to implement those
plans, 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-A for the fiscal year ended September 30, 2014 filed with the SEC.
Although Good Times may from time to time voluntarily update its
forward-looking statements, it disclaims any commitment to do so except
as required by securities laws.
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