KWM Proposes Significantly Improved Financing Terms for Village Inn / Bakers Square Acquisition
Coral Springs, FL, June 28, 2021 (GLOBE NEWSWIRE) -- Dear BBQ Holdings Board of Directors, Congratulations on the exceptional purchase of Village Inn & Bakers Square, we look forward to the sizeable free cash flow and growth this new asset will provide – along with BBQ Holdings, Inc. (NASDAQ:BBQ) existing businesses. We are troubled by the dilution given the $21M in cash on the balance sheet combined with a robust free cash flow outlook and stark undervaluation of the shares. We are offering the company a $5M convertible preferred financing at 5% and convertible into common stock at $20/share, with few restrictive covenants. We urge the board to act in the best interest of shareholders b
