Imvescor Restaurant group private offering

[beerbaron]

 

http://www.newswire.ca/en/story/859259/imvescor-restaurant-group-announces-refinancing-and-recapitalization-transactions

 

 

[nwoodman]

Thanks for posting.  Only small potatoes but nice terms. Looks like FFH has a new sub. 

 

"Following completion of the Equity Private Placement, Fairfax will beneficially own, or exercise control or direction over, directly or indirectly, 26,757,523 common shares representing approximately 73.9% of the then issued and outstanding common shares (on a fully-diluted basis) and, assuming the exercise of all Warrants issued under the Debt and Warrant Private Placement, 42,142,139 common shares, representing approximately 81.7% of the issued and outstanding common shares."

 

 

About Imvescor Restaurant Group

 

Headquartered in Moncton, New Brunswick, Imvescor Restaurant Group owns franchised and corporate stores throughout Canada, under four brands: Pizza Delight® operates primarily in Atlantic Canada, where it dominates the family/mid-scale segment. Mikes® and Scores® restaurants operate primarily in Quebec in the family and casual dining segments and the take-out and delivery segments. Bâton Rouge® operates in Quebec, Ontario, and Alberta in the casual dining segment.

 

 

Anyone been to one of their restaurants?

 

[beerbaron]

Too bad IRG is such a crappy business. Nice terms though!

 

BeerBaron

[Liberty]

I've been to Mikes and Scores and they're decent. Usually pretty full of customers, so at least there's that.