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8-K - FORM 8-K - NATHANS FAMOUS, INC. | d879933d8k.htm |
EX-99.1 - EX-99.1 - NATHANS FAMOUS, INC. | d879933dex991.htm |
Exhibit 99.2
News Release
For Immediate Release
Nathans Announces Proposed Offering of
Senior Secured Notes due 2020
JERICHO, N.Y. February 27, 2015 Nathans Famous, Inc. (NASDAQ: NATH) (Nathans) announced today that it intends to offer, subject to market and other conditions, $125.0 million aggregate principal amount of Senior Secured Notes due 2020 (the Notes) in a private offering. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and outside the United States in reliance on Regulation S under the Securities Act. The interest rate and other terms of the Notes will be determined based on prevailing market conditions.
Nathans intends to use the net proceeds of the Notes offering to pay a special dividend of up to approximately $116.0 million to Nathans stockholders of record and the remaining net proceeds for general corporate purposes, including working capital. If the Notes offering is consummated, the Nathans board of directors will set the record date and the payment date of the dividend following closing.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes have not been registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.
About Nathans Famous, Inc.
Nathans is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and ten foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 480 million Nathans Famous hot dogs were sold. Nathans was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathans please visit our website at www.nathansfamous.com. The contents of our website have not been incorporated into and do not form a part of this press release.
Forward-Looking Statements
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as anticipate, believe, estimate, expect, intend, and similar expressions identify forward-looking statements, which are based on the current belief of Nathans management, as well as assumptions made by and
information currently available to Nathans management. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, statements regarding Nathans ability to complete the offer of the Notes and other risks and factors identified from time to time in Nathans filings with the SEC. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Nathans does not undertake any obligation to update such forward-looking statements.
Contact information:
Investors: Ronald DeVos, Chief Financial Officer, (516) 338-8500
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