SONIC CORP. (NASDAQ:SONC) Files An 8-K Other EventsItem 8.01Other Events.
On September 25, 2018, Sonic Corp., a Delaware corporation (the “Company”), issued a joint press release announcing the entry into a definitive agreement to which Inspire Brands, Inc., a Delaware Corporation, will acquire the Company, on the terms and conditions contained therein. A copy of the joint press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(a)Exhibits.
|
Exhibit No. |
Description |
|
99.1 |
Press Release, dated September 25, 2018.
|
SONIC CORP ExhibitEX-99.1 2 ss108338_ex9901.htm PRESS RELEASE Exhibit 99.1 Sonic Corp. to be Acquired by Inspire Brands in $2.3 Billion Transaction Oklahoma City and Atlanta – September 25,…To view the full exhibit click here
About SONIC CORP. (NASDAQ:SONC)
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board. At a Sonic Drive-In, a customer drives into one of the parking spaces, orders through the intercom speaker system and has the food delivered by a carhop and Sonic Drive-Ins also include a drive-thru lane and patio seating to provide customers with alternative dining options. Its food items include specialty drinks, such as cherry limeades and slushes, ice cream desserts and chicken sandwiches and hamburgers.