Woodland Hills, CA (September 2009) – Grill Concepts, the operator of The Grill on the Alley, Daily Grill and In Short Order – Daily Grill restaurants, completed a transaction in which a major shareholder of the Company made a total additional investment of $15 million in Grill Concepts. The Independent Committee of the Board of Grill Concepts was advised by Hadley Partners, Incorporated, and Hadley Partners issued a fairness opinion in connection with the transaction.
As part of the transaction, the Company issued 10% secured convertible debentures as well as shares of the Company’s convertible preferred stock. Also as part of the transaction, certain members of Grill Concepts’ management team participated in the financing via financing provided by the lead investor, Mr. Chuck Mathewson. Additional details about the transaction may be found in the Company’s quarterly report for the period ended September 27, 2011, which is available online at http://www.pinksheets.com/pink/quote/quote.jsp?symbol==gllc.
Paul Huffman, managing director of Hadley Partners and head of the firm’s restaurant practice, said “We are pleased to have been of service to Grill Concepts at this crucial time in the growth of the Company. This assignment represents a continuation of my 16 years serving companies in the restaurant industry with high-quality investment banking services, and I look forward to continuing our relationship with Grill Concepts. We thank the board for their confidence in Hadley Partners.”
About Grill Concepts (www.dailygrill.com)
Grill Concepts owns, manages and licenses upscale casual and fine dining, full service restaurants under two core brand names: The Grill on the Alley and Daily Grill; as well as a newly launched quick casual concept named In Short Order – Daily Grill. The company operates 30 restaurants including seven The Grill on the Alley-branded restaurants; 22 Daily Grill restaurants; and one In Short Order – Daily Grill.
About Hadley Partners (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners, Incorporated is a registered broker-dealer, and a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
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