SAN ANTONIO, TX, Sept. 12, 2014 /PRNewswire/ -- Biglari
Holdings Inc. (NYSE: BH) ("Biglari Holdings" or the "Company")
announced the completion of its previously announced rights
offering, which expired at 5:00 p.m.
(New York City time) on
September 12, 2014.
Preliminary results indicate that the rights offering was
over-subscribed. As a result, Biglari Holdings expects to receive
net proceeds of approximately $85.9
million from the offering.
Following the issuance of the newly subscribed shares, which is
expected to occur within seven to 10 business days after the
expiration date, Biglari Holdings will have approximately 2,065,566
shares outstanding.
If you requested and paid for more shares of common stock than
are allocated to you pursuant to your oversubscription privilege,
Biglari Holdings will refund that overpayment, without
interest.
About Biglari Holdings Inc.
Biglari Holdings Inc. is a holding company owning subsidiaries
engaged in a number of diverse business activities, including
media, property and casualty insurance, as well as restaurants. The
Company's largest operating subsidiaries are involved in the
franchising and operating of restaurants. All major operating,
investment, and capital allocation decisions are made for the
Company and its subsidiaries by Sardar
Biglari, Chairman and Chief Executive Officer.
Risks Associated with Forward-Looking Statements
This news release may include "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. These statements which
may concern anticipated future results are based on current
expectations and are subject to a number of risks and uncertainties
that could cause actual results to differ markedly from those
projected or discussed here. Biglari Holdings cautions readers not
to place undue reliance upon any such forward-looking statements,
for actual results may differ materially from expectations. Biglari
Holdings does not update publicly or revise any forward-looking
statements even if experience or future changes make it clear that
any projected results expressed or implied therein will not be
realized. Further information on the types of factors that could
affect Biglari Holdings and its business can be found in the
company's filings with the SEC.
SOURCE Biglari Holdings Inc.