On 11/13/13 Palladium Capital Advisors completed a private placement for Chanticleer Holdings, Inc. (NASDAQ: HOTR) (“the Company”) in which the Company entered into a Subscription Agreement with three accredited investors, pursuant to which the Company sold to the Investors an aggregate of 160,000 Units at a purchase price of $5.00 per Unit, closing a $800,000 private placement.
Mike Pruitt, the Company’s CEO stated, “Having access to capital at favorable rates allows us to continue to pursue opportunities as they present themselves.”
Each Unit consists of (a) 1 share of the Company’s common stock, $0.001 par value per share and (b) 1 5-year warrant to purchase 1 share of common stock. 80,000 warrants are available at an initial exercise price of $5.50, while the remaining 80,000 warrants are available at an initial exercise price of $7.00. Please see the accompanying Form 8-K filed for more details.