The rights offering proceeds will be used to retire certain of the Company's current debt obligations, provide funds for store-related growth and for general working capital. Assuming the rights offering is fully subscribed, the Company currently expects to receive gross proceeds of approximately $13.5 million. The Company has engaged Source Capital Group, Inc. as the dealer-manager for the rights offering. The rights offering is being made pursuant to Chanticleer's effective registration statement on Form S-1 (Reg. No. 333-214319) on file with the U.S.
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