LAKE FOREST, Calif.--(BUSINESS WIRE)--
Del Taco Restaurants, Inc. (“Del Taco” and the “Company”) (NASDAQ: TACO,
TACOW), announced today the pricing of an offering of 3,372,016 shares
of its common stock at $12.00 per share. The shares are held by entities
affiliated with Goldman Sachs Mezzanine Partners, Leonard Green &
Partners and Charlesbank Capital Partners (the “Selling Stockholders”).
The underwriters have a 30-day option to purchase up to an additional
505,802 shares of common stock held by the Selling Stockholders. Del
Taco is not selling any shares in this offering and will not receive any
proceeds from the sale of the shares of common stock offered by the
Selling Stockholders. The offering is expected to close on October 30,
2015. Citigroup is acting as a book-running manager and representative
of the underwriters. Piper Jaffray is also a book-running manager.
The shares of common stock are being offered pursuant to a prospectus,
including a prospectus supplement with an accompanying base prospectus
that are part of a shelf registration statement on Form S-3 (File No.
333-205467) that was declared effective by the Securities and Exchange
Commission (the "SEC") on July 15, 2015. A preliminary prospectus
supplement related to the common stock offering was filed with the SEC
on October 26, 2015. The shares may be offered only by means of a
prospectus, including a prospectus supplement with the accompanying base
prospectus relating to the offering filed as part of an effective
registration statement filed with the SEC on Form S-3. Copies of the
preliminary prospectus supplement with the accompanying prospectus
relating to this offering and the final prospectus supplement, when
available, may be obtained from Citigroup Global Markets, Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 (tel: 800-831-9146). An electronic copy of the prospectus
supplement with the accompanying prospectus relating to the common stock
offering will also be available on the website of the SEC at http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company, and shall
not constitute an offer, solicitation or sale of any security in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Del Taco Restaurants, Inc.
Del Taco is nationwide operator and franchisor of restaurants of both
Mexican inspired and American classic dishes featuring fresh and fast
made-to-order cuisine, using fresh ingredients including cheddar cheese
grated from 40-pound blocks, handmade pico de gallo salsa, lard-free
beans slow-cooked from scratch, fresh sliced avocado and marinated
chicken grilled in the restaurant. The menu, which includes a full line
of breakfast, includes classic Mexican dishes such as tacos, burritos,
quesadillas and nachos as well as American favorites including
hamburgers, crinkle-cut fries and shakes. Del Taco and its franchisees
operate close to 550 restaurants in 16 states and serves more than three
million guests each week.
Forward-Looking Statements
In addition to historical information, this release may contain a number
of “forward-looking statements” as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
without limitation, information concerning Del Taco’s possible or
assumed future results of operations, business strategies, competitive
position, industry environment, potential growth opportunities and the
effects of regulation. These statements are based Del Taco’s
management’s current expectations and beliefs, as well as a number of
assumptions concerning future events. When used in this press release,
the words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,”
“should,” “future,” “propose” and variations of these words or similar
expressions (or the negative versions of such words or expressions) are
intended to identify forward-looking statements. Such forward-looking
statements are subject to known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside Del
Taco’s management’s control that could cause actual results to differ
materially from the results discussed in the forward-looking statements.
These risks include, without limitation, consumer demand, our inability
to successfully open company-operated or franchised restaurants or
establish new markets, competition in our markets, our inability to grow
and manage growth profitably, adverse changes in food and supply costs,
our inability to access additional capital, changes in applicable laws
or regulations, food safety and foodborne illness concerns, our
inability to manage existing and to obtain additional franchisees, our
inability to attract and retain qualified personnel, our inability to
profitably expand into new markets, and the possibility that we may be
adversely affected by other economic, business, and/or competitive
factors. Additional risks and uncertainties are identified and discussed
in Del Taco’s reports filed with the SEC and available at the SEC’s
website at www.sec.gov.
Forward-looking statements included in this release speak only as of the
date of this release. Del Taco undertakes no obligation to update its
forward-looking statements to reflect events or circumstances after the
date of this release or otherwise.
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Source: Del Taco Restaurants, Inc.