Business
Dave & Buster’s Entertainment Inc. Announces Closing of Public Offering of Common Stock
DALLAS, May 06, 2020 (GLOBE NEWSWIRE) -- Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) (the “Company”), an owner and operator of entertainment and dining
About this update from Dave & Buster's Entertainment, Inc.
[{"type":"text","content":"DALLAS, May 06, 2020 (GLOBE NEWSWIRE) -- Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) (the “Company”), an owner and operator of entertainment and dining venues, announced today the closing of its previously announced sale of shares of its common stock (the “Offering”) to Jefferies LLC (“Jefferies”), pursuant to an underwriting agreement entered into between the Company and Jefferies on May 4, 2020. The Company sold a total of 9,578,545 shares, at a price of $10.44 per share. The Offering was completed on May 6, 2020, and total proceeds from the Offering received by the Company are approximately $100 million, before deducting offering expenses payable by the Company.\n The Company currently intends to use the net proceeds from this Offering primarily to strengthen its balance sheet, principally as necessitated by the effects of the COVID-19 outbreak on its business, which could include use for general corporate purposes and/or repayment of outstanding debt. The Offering was made pursuant to the Company’s effective registration statement on Form S-3 (Registration Statement No. 333-237664), filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 14, 2020. The Offering was described in the Company’s prospectus dated April 14, 2020, as supplemented by a preliminary prospectus supplement filed with the SEC on May 4, 2020 and a final prospectus supplement filed with the SEC on May 6, 2020. The preliminary prospectus supplement, the final prospectus supplement and the accompanying prospectus relating to this offering have been filed with the SEC and are available on the SEC’s website located at www.sec.gov. Prospective investors should read the prospectus, the preliminary prospectus supplement, the final prospectus supplement and other documents the Company has filed with or submitted to the SEC (some of which are incorporated by reference into the prospectus, the preliminary prospectus supplement and the final prospectus supplement) for more complete information about the Company, the Offering and the risks the Company currently is facing due to the spread of COVID-19. Copies of the preliminary prospectus supplement, the final prospectus supplement and the accompanying prospectus relating to this Offering may also be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Ave...