Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement
On December 21, 2016, Del Frisco’s Restaurant Group, Inc. (the “Company”) entered into the Third Amendment to Loan Agreement (the “Amendment”) to its Loan Agreement, as amended, dated as of October 15, 2012, by and among Del Frisco’s Restaurant Group, Inc., certain subsidiaries as guarantors, and JP Morgan Chase Bank N.A. (the “Loan Agreement”). The Amendment, among other things, extends the termination date of the Loan Agreement to October 15, 2019 and modifies the Revolving Credit Commitment (as defined in the Amendment) to $10 million, with such amount subject to increases in increments of $5 million at the Company’s request, up to a maximum amount of $30 million. Additionally, the limit on the repurchase of the Company’s capital stock from public investors was increased to $50 million.
The foregoing summary of the Amendment is not complete and is subject in its entirety to the complete text of the Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
Exhibit 10.1 Third Amendment to Loan Agreement, dated as of December 21, 2016, to Loan Agreement, as amended, dated as of October 15, 2012, by and among Del Frisco’s Restaurant Group, Inc., certain subsidiaries as guarantors, and JP Morgan Chase Bank N.A.
About Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG)
Del Frisco’s Restaurant Group, Inc. is engaged in developing, owning and operating restaurants. The Company’s complementary restaurants include Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). Its operating segments are Del Frisco’s, Sullivan’s and Del Frisco’s Grille. Del Frisco’s is a steakhouse concept in the United States. The Sullivan’s brand includes a fine dining experience, along with an atmosphere created an open kitchen, live music and a bar area designed to be a center for social gathering and entertainment. The Grille is a casual concept with a menu designed to appeal to both business and casual diners that features various Del Frisco’s aged steaks, menu items and a range of wines. The Del Frisco’s brand’s menu includes other offerings, such as lamb, seafood, and various side dishes and desserts. It operates over 50 restaurants in 20 states and the District of Columbia. Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) Recent Trading Information
Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) closed its last trading session down -0.25 at 17.65 with 152,436 shares trading hands.