WINGSTOP INC. (NASDAQ:WING) Files An 8-K Entry into a Material Definitive Agreement

On June 19, 2019 (the “Effective Date”), Wingstop Restaurants Inc. (“WRI”), a wholly-owned subsidiary of Wingstop Inc. (the “Company”), entered into a Commercial Contract of Sale (the “Agreement”) with Westerman Realty Interests, LLC (“Westerman”) for the purchase and sale of a commercial office building (the “Building”) located in Addison, Texas. to the Agreement, WRI has agreed to purchase the fee simple title to the parcel of real estate, building, improvements, fixtures and other rights associated therewith (the “Property”) for a purchase price of $18,300,000 (the “Purchase Price”). The Company has agreed to pay to Westerman an earnest money deposit of $180,000 that, subject to limited exceptions, is nonrefundable but creditable toward the Purchase Price upon the closing of the purchase and sale of the Property, which is expected to occur on September 17, 2019.

The Agreement contains customary representations, warranties, covenants, and conditions. In addition, WRI has the right to terminate the Agreement and receive a full refund of the earnest money, for any reason and in its sole discretion, at any time within 30 days from the Effective Date, during which time the Company will conduct a due diligence investigation regarding the Property. The Building contains approximately 78,000 square feet of office space, which the Company intends to convert into its new headquarters after making appropriate upgrades and renovations.

The foregoing description of the terms of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On June 25, 2019, the Company issued a press release regarding the Agreement and the Property, a copy of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information furnished to Item 7.01 (including the information in Exhibit 99.1) shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Wingstop Inc. Exhibit
EX-10.1 2 exhibit101commercialcontra.htm EXHIBIT 10.1 Exhibit Hudson Peters CommercialNORTH TEXAS COMMERCIAL ASSOCIATION OF REALTORS® COMMERCIAL CONTRACT OF SALE[Check all boxes applicable to this Contract – Boxes not checked do not apply to this Contract]In consideration of the agreements contained in this Commercial Contract of Sale (the \”Contract\”),…
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About WINGSTOP INC. (NASDAQ:WING)

Wingstop Inc. is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting. The flavors include Atomic, Mango Habanero, Cajun, Louisiana Rub, Mild, Hickory Smoked BBQ, Lemon Pepper, Garlic Parmesan, Hawaiian and Teriyaki. It offers various order options, including eat-in, to go, individual, combo meals and family packs. It operates through two segments: Franchise and Company. The Franchise segment consists of its domestic and international franchise restaurants, which represent the majority of its system-wide restaurants. The Company segment consists of company-owned restaurants, which are located only in the United States.