BT Brands terminates merger deal with Aero Velocity
Updated
Updated · MarketWatch · May 7
BT Brands terminates merger deal with Aero Velocity
9 articles · Updated · MarketWatch · May 7
The restaurant company said the SEC had not declared the registration statement effective by the April 30 deadline; Aero's counsel challenged the move in a May 4 letter.
BT Brands said it disputes Aero Velocity's claim that the termination was invalid, and its shares fell 26% in after-hours trading to $1.30 on Thursday.
BT Brands said it will keep seeking ways to enhance shareholder value while focusing on restaurant profitability, cash flow and balance-sheet flexibility across its nine restaurants and Bagger Dave's stake.
After its stock plummeted and its tech pivot failed, how can a small restaurant chain restore shareholder value?
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