CHARLOTTE, N.C., March 24, 2011 /PRNewswire/ -- Chanticleer Holdings, Inc. (OTC Bulletin Board: CCLR) announced today that it has set the close of trading on March 31, 2011 as the record date for its previously announced proposed public rights offering.
On January 6, 2011, Chanticleer filed a registration statement on Form S-1 with the Securities and Exchange Commission with respect to the proposed offering. Upon commencement of the proposed rights offering, Chanticleer would distribute to holders of record of its common stock one non-transferable subscription right for each share of its common stock held on March 31, 2011, the record date. Each right would permit the holder to purchase for $0.04 per right, one Class A Offered Warrant entitling the holder to purchase one share of Chanticleer common stock at $2.75, for a period of 5 years following issuance, and one Class B Offered Warrant entitling the holder to purchase one share of Chanticleer common stock at $3.50, for a period of 5 years following issuance. The Offered Warrants underlying the rights are nontransferable following their issuance and through their expiration date
The proposed rights offering will commence as soon as practicable following the registration statement being declared effective by the SEC. The commencement and expiration dates for the proposed rights offering would be determined at the time the registration statement for this offering becomes effective.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. A copy of the prospectus forming a part of the registration statement may be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting the Company's Secretary at (845) 807-0001. These rights may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any 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 Chanticleer Holdings, Inc.
Chanticleer Holdings is engaged in asset management and consulting -- two of the most prominent and exciting growth markets in the financial services arena -- through its wholly-owned operating subsidiaries. Chanticleer Advisors invests in privately held or publicly-traded small or micro-cap, value-based opportunities through its private, managed pools of capital. Avenel Ventures provides business management and consulting services at the board and management level. Additionally, the Company is part of a consortium that purchased 120 Hooters restaurants from Hooters of America and 41 restaurants from Texas Wings, the largest franchisee.
Headquartered in Charlotte, NC, Chanticleer Holdings, Inc. was formed in 2005 as a business development company and converted to an operating holding company in 2008. For further information, please visit www.chanticleerholdings.com
Cautionary Statement Regarding Forward Looking Information
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that may involve material risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. For a full discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the company's Annual Report on Form 10-K for the most recently ended fiscal year, as well as the company's Quarterly Report on Form 10-Q for the most recently ended fiscal quarter.
Contact: Todd Fromer/Sharron Silvers KCSA Strategic Communications P: 212-682-6300
SOURCE Chanticleer Holdings, Inc.