LAKE FOREST, Calif.--(BUSINESS WIRE)--
Del Taco Restaurants, Inc. (“Del Taco” or the “Company”) (NASDAQ:TACO,
TACOW), the second largest Mexican-American QSR chain by units in the
United States, received numerous inquiries after the market close on
July 7, 2016 regarding three Form 4 filings filed with the Securities
and Exchange Commission on July 7, 2016 that it would like to clarify so
as to avoid confusion or misinterpretation.
Levy Acquisition Sponsor, LLC owned common stock (known as founder
shares) and certain private placement warrants of the Company, which
were both held in escrow until June 30, 2016. Following expiration of
the lock-up period applicable to these securities, the securities were
released from escrow and, on July 6, 2016, distributed by Levy
Acquisition Sponsor to its underlying members pro rata in accordance
with their ownership interests for no consideration. The members of Levy
Acquisition Sponsor consist of entities controlled by members of the
Company’s Board of Directors, trusts for the benefit of the children of
our chairman of the Board, Lawrence F. Levy, and employees of Mr. Levy’s
family office, Levy Family Partners, LLC. There is no change in the
members’ pecuniary interest in the shares and warrants as a result of
the distribution.
About Del Taco Restaurants, Inc.
Founded in 1964 in Southern California, Del Taco (NASDAQ:TACO) is the
nation’s second largest Mexican Quick Service Restaurant chain. Known
for serving Mexican and American favorites prepared fresh in every
restaurants’ working kitchen, Del Taco’s menu items taste better because
they are made with fresh ingredients like cheddar cheese grated from
40-lb blocks, hand chopped pico de gallo, fresh sliced avocado, slow
cooked beans made from scratch, and fresh-grilled marinated chicken and
carne asada steak. In June 2016, Del Taco reinvigorated its UnFreshing
Believable® marketing campaign to further communicate its commitment to
serve guests everything that they love, including choosing not to choose
between tacos and fries, fresh prep and fair price, or great tasting
food and the convenience of a drive thru. With nearly 550 restaurants in
16 states, Del Taco serves more than three million guests each week. For
more information, follow Del Taco on Twitter, Facebook and Instagram or
visit www.deltaco.com.
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Source: Del Taco Restaurants, Inc.