NOODLES & COMPANY (NASDAQ:NDLS) Files An 8-K Other Events
Item 8.01. Other Events.
Form 8-K filed on February 9, 2017, Noodles Company, a Delaware
corporation (the Company), entered into a securities purchase
agreement (the L>Catterton Securities Purchase Agreement) with
Catterton-Noodles LLC, a Delaware limited liability company
(L>Catterton), dated February 8, 2017, to which the Company
agreed, in return for aggregate gross proceeds of $18,500,000, to
sell to L>Catterton certain securities, including 18,500
shares of the Companys Series A Convertible Preferred Stock, par
value $0.01 per share (the Preferred Shares). The Company filed a
Certificate of Designations with respect to the Companys Series A
Convertible Preferred Stock with the Secretary of State of the
State of Delaware on February 9, 2017 (the Certificate of
Designations).
option upon the satisfaction of certain conditions, cause all
outstanding Preferred Shares to be automatically converted into
the Companys Class A common stock (the Conversion Option). On
April 5, 2017, the Company delivered a notice to L Catterton of
the Companys election to exercise the Conversion Option. The
conversion and issuance of 4,252,873 shares of the Companys Class
A Common Stock is expected to occur on April 12, 2017. After the
conversion, no Preferred Shares will be outstanding.
Purchase Agreement is qualified in its entirety by reference to
the L Catterton Securities Purchase Agreement, a copy of which
was filed as an exhibit to the Companys Current Report on Form
8-K filed on February 9, 2017. The description of the terms of
the Certificate of Designations in this Current Report on Form
8-K is qualified in its entirety by reference to the Certificate
of Designations of Series A Convertible Preferred Stock of
Noodles Company, filed with the Secretary of State of the State
of Delaware on February 9, 2017, a copy of which was filed as an
exhibit to the Companys Current Report on Form 8-K filed on
February 9, 2017.
About NOODLES & COMPANY (NASDAQ:NDLS)
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province. The Company offers over 30 globally inspired Asian, Mediterranean and American dishes together on a single menu. The Company offers approximately 10 fresh vegetables and six proteins, including marinated steak, naturally raised pork, chicken, meatballs, shrimp and organic tofu. The Company offers Kids Meals, which includes sides, such as broccoli, carrots, fruit, applesauce and a portion of its housemade rice crispy treat. The Company’s restaurants’ locations include Arizona, California, Colorado, Delaware, New York, North Dakota, Ohio, Texas, Utah, Virginia, Washington and Wisconsin. NOODLES & COMPANY (NASDAQ:NDLS) Recent Trading Information
NOODLES & COMPANY (NASDAQ:NDLS) closed its last trading session 00.00 at 5.85 with 242,645 shares trading hands.
