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BRIEF-Noodles & Company announces private placement financing
March 14, 2017 / 12:43 PM / 8 months ago

BRIEF-Noodles & Company announces private placement financing

March 14 (Reuters) - Noodles & Co

* Noodles & Company announces private placement financing

* Announced a $31.5 million private placement of class A common stock to MILL ROAD CAPITAL II

* No longer intends to pursue a public offering of its class A common stock

* Under private placement, Co agreed to issue to Mill Road 8.9 million shares of class A common stock at a price per share of $3.55

* Proceeds of private placement will be used to satisfy liabilities associated with Co’s plan to close underperforming restaurants

* Proceeds will be used to satisfy liabilities arising from data breach that occurred in 2016, to fund capex related to Co-owned restaurants Source text for Eikon: Further company coverage:

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