CHANTICLEER HOLDINGS, INC. (NASDAQ:HOTR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
The disclosures set forth in Item 2.03 are incorporated herein by
this reference.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
to an Exchange Agreement dated and effective March 10, 2017
(Exchange Agreement) by and between Chanticleer Holdings, Inc., a
Delaware corporation (Chanticleer) and four of Chanticleers
existing note holders, Chanticleer exchanged 8% notes in the
aggregate principal amount of $725,000, which notes were in
default (Original Notes) for new two-year 2% notes, in the
aggregate principal amount of $820,107.29, representing principal
and unpaid accrued interest (Exchange Notes). The Original Notes
were cancelled. Each Exchange Note may be converted to common
stock of the Company, at the option of the holder, at a
conversion price of $0.30 per share and may be called by the
holder after the one-year anniversary of the exchange date.
Item 3.02 Unregistered Sale of Equity
Securities.
The disclosures set forth in Item 2.03 are incorporated herein by
this reference. The issuance of the Exchange Notes is exempt from
registration to the provisions Section 3(a)(9) of the Securities
Act of 1933, as amended.
About CHANTICLEER HOLDINGS, INC. (NASDAQ:HOTR)
Chanticleer Holdings, Inc. is engaged in the business of owning, operating and franchising fast casual dining concepts domestically and internationally. The Company’s brands include Hooters, American Burger Company (ABC), BGR: the Burger Joint (BGR), BT’s Burger Joint (BT), Little Big Burger (LBB) and Just Fresh. Hooters restaurants are casual beach-themed establishments featuring music, sports on large flat screens, and a menu that includes seafood, burgers, salads and Hooters original chicken wings. ABC is a fast casual dining chain located in North Carolina, South Carolina and New York. BGR consists of approximately 10 Company-owned locations in the United States and over 13 franchisee-operated locations in the United States and the Middle East. LBB consists of approximately eight locations in Oregon. Just Fresh consists of approximately seven Company owned locations in Charlotte, North Carolina. CHANTICLEER HOLDINGS, INC. (NASDAQ:HOTR) Recent Trading Information
CHANTICLEER HOLDINGS, INC. (NASDAQ:HOTR) closed its last trading session 00.000 at 0.410 with 35,615 shares trading hands.