Passport Restaurants, Inc. Announces Filing of Registration Statement for Initial Public Offering
Passport Restaurants, Inc. (Pink Sheets:PSPR) (FWB:PPU), a restaurant holding company, today announced that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its units (consisting of common stock and warrants).
The Company plans to raise up to $12.7 million, and intends to use the proceeds to retire debt and for business development and growth, potential acquisitions, working capital and general corporate purposes. In connection with the offering, the Company intends to seek a listing for the offered securities on the American Stock Exchange. The registration statement also relates to a secondary offering of common stock by certain existing holders.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. This announcement is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended.
About Passport Restaurants, Inc.
Passport Restaurants, Inc. is a multi-concept restaurant management and holding company which acquires, develops and grows emerging restaurant concepts in the casual dining and quick-casual dining segments of the U.S. restaurant industry. Passport Restaurants, Inc. currently owns Playa Grill & Margarita Bar, a quick-casual restaurant that features high quality, high value, made-fresh Mexican grilled foods in a casual coastal atmosphere, Steve's Pizza a quick-casual 'hometown' pizza restaurant offering a superior quality, affordably priced pizza for dine-in, take-out and delivery and New York NY Fresh Deli, a quick-casual sandwich restaurant which features signature New York Style Hot Sub Sandwiches, Gourmet Deli Sandwiches and Fresh Cut Salads.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. This announcement is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended.
About Passport Restaurants, Inc.
Passport Restaurants, Inc. is a multi-concept restaurant management and holding company which acquires, develops and grows emerging restaurant concepts in the casual dining and quick-casual dining segments of the U.S. restaurant industry. Passport Restaurants, Inc. currently owns Playa Grill & Margarita Bar, a quick-casual restaurant that features high quality, high value, made-fresh Mexican grilled foods in a casual coastal atmosphere, Steve's Pizza a quick-casual 'hometown' pizza restaurant offering a superior quality, affordably priced pizza for dine-in, take-out and delivery and New York NY Fresh Deli, a quick-casual sandwich restaurant which features signature New York Style Hot Sub Sandwiches, Gourmet Deli Sandwiches and Fresh Cut Salads.
