RCI Announces Debt Financing Commitments to Fund Expansion
Press releases, United States

RCI Announces Debt Financing Commitments to Fund Expansion

HOUSTONSept. 13, 2018 /Prexly/ — RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced debt financing commitments to fund the closing of two recently announced nightclub acquisitions.

The commitments include a $5.0 million unsecured bank term loan and additional third-party debt financing.

“Along with cash on hand, these commitments will ensure there is adequate capital to fund recent expansion announcements without the need to issue new equity or equity-linked debt,” said Eric Langan, President & CEO of RCI.

As previously reported, RCI subsidiaries have signed definitive agreements to acquire ownership of Blush Gentlemen’s Club & Sports Bar in Pittsburgh and related real estate, and ownership of VIP’s Gentlemen’s Club in Chicago and related real estate.

About RCI Hospitality Holdings, Inc. (Nasdaq : RICK)

With more than 40 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen’s clubs and sports bars/restaurants.

Clubs in New York CityMiamiCharlotteDallas/Ft. WorthHoustonMinneapolisSt. Louis, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie’s Cabaret, and Scarlett’s Cabaret.

Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar. Please visit http://www.rcihospitality.com.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com

SOURCE RCI Hospitality Holdings, Inc.

Related Links