CHICAGO--(BUSINESS WIRE)--
Levy Acquisition Corp. (“LAC”) (NASDAQ CM: LEVY, LEVYW, and LEVYU)
announced today changes to its ticker symbols ahead of completing its
definitive merger agreement whereby Del Taco Holdings, Inc., the second
largest Mexican-American QSR chain by units in the United States,
operating restaurants under the name Del Taco® (“Del Taco”) will become
the sole direct subsidiary of LAC (the “Merger”). Effective upon the
opening of trading on April 28, 2015, LAC’s ticker symbols, as quoted on
the NASDAQ stock exchange, will change to “TACO” from “LEVY” for its
common stock, to “TACOW” from “LEVYW” for its warrants, and to “TACOU”
from “LEVYU” for its units.
The Merger is expected to be completed in June 2015.
Larry Levy, Chairman of the Del Taco and LAC boards, commented, “We are
very excited by LAC’s pending merger with Del Taco, and as previously
communicated, intend to change LAC’s corporate name to Del Taco
Restaurants, Inc. upon completion of the transaction. These changes to
our ticker symbols will further align us with the strong reputation and
iconic following that Del Taco has developed in the marketplace and will
enable us to communicate our brand message more effectively to the
investor community.”
About Levy Acquisition Corp.
Levy Acquisition Corp. is a blank check company formed in October 2013
for the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination. In November 2013, LAC consummated its initial public
offering of 15 million units, each unit consisting of one share of
common stock and one-half of one warrant. Each whole warrant entitles
the holder thereof to purchase one share of common stock at a price of
$11.50 per share. Aggregate proceeds of $150,000,000 from the IPO were
placed in trust pending completion of LAC’s initial business
combination. On March 12, 2015, LAC announced it had entered into a
definitive merger agreement through which it would acquire Del Taco
following a shareholder vote likely to take place in June.
For more information, please visit www.levyacquisitioncorp.com.
About Del Taco Holdings, Inc.
The Del Taco brand was founded in Southern California in 1964. By 1978,
Del Taco had opened its 100th location and reached 5 states. Del Taco
and its franchisees now operate approximately 550 restaurants in 16
states, serving more than 3 million guests each week. Del Taco owns just
over 300 of the stores in its system with the balance owned and operated
by franchisees.
At Del Taco, menu items are made to order with fresh ingredients,
including Cheddar cheese grated from 40-pound blocks, handmade pico de
gallo salsa, lard-free beans slow-cooked from scratch, and marinated
chicken grilled in the restaurant. The menu includes classic Mexican
dishes such as tacos, burritos, quesadillas and nachos as well as
American favorites including hamburgers, crinkle-cut fries and shakes.
In 2014, Del Taco celebrated its 50th anniversary and recently launched
the UnFreshing Believable® campaign to communicate the lengths the
company goes to in order to deliver quality, made-to-order menu items
created with freshly-prepared ingredients.
For more information, please visit www.deltaco.com.
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
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 on LAC’s or 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 LAC’s
or 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, uncertainties, assumptions and other important
factors include, but are not limited to, (1) the occurrence of any
event, change or other circumstances that could give rise to the
termination of the Agreement and Plan of Merger for the proposed
business combination (the "Business Combination Agreement"); (2) the
inability to complete the transactions contemplated by the Business
Combination Agreement due to the failure to obtain approval of the
stockholders of LAC or other conditions to closing in the Business
Combination Agreement; (3) the ability to meet NASDAQ’s listing
standards following the Merger; (4) the risk that the proposed
transaction disrupts current plans and operations of Del Taco as a
result of the announcement and consummation of the transactions
described herein; (5) the ability to recognize the anticipated benefits
of the proposed business combination, which may be affected by, among
other things, competition, the ability of the combined company to grow
and manage growth profitably, maintain relationships with suppliers and
retain its management and key employees; (6) costs related to the
proposed business combination; (7) changes in applicable laws or
regulations; and (8) the possibility that Del Taco may be adversely
affected by other economic, business, and/or competitive factors.
Forward-looking statements included in this release speak only as of the
date of this release. Neither LAC nor Del Taco undertakes any obligation
to update its forward-looking statements to reflect events or
circumstances after the date of this release. Additional risks and
uncertainties are identified and discussed in LAC’s reports filed with
the SEC and available at the SEC’s website at www.sec.gov
and the Company’s website at www.levyacquisitioncorp.com.
Source: Levy Acquisition Corp.