Content Spotlight
Tech Tracker: How digital tech is capitalizing on the hot restaurant reservations market
Tock and Google now offer experience reservations; Diibs launches as a platform for bidding on last-minute reservations
TGIF Holdings LLC and Allegro Merger Corp. announced a merger Friday that takes the chain public
On Friday, Nov. 8, privately-held TGIF Holdings LLC and special purpose acquisition company Allegro Merger Corp. announced an agreement that would take the casual-dining chain public. TGI Fridays will receive $30 million in a combination of cash and stock, and New York-based Allegro will also assume $350 million of net debt from the struggling Dallas-based restaurant chain.
Before the deal, the majority owners of TGI Fridays were TriArtisan Capital Advisors LLC, and the company is expected to exchange a majority of its ownership in TGI Fridays for shares of Allegro.
Eric Rosenfeld, CEO of Allegro Merger Corp., and Raymond Blanchette, CEO of TGI Fridays, held an investors’ call shortly after the announcement of the merger. These are the top...
This content is available for registered users
Already have an account?
Read more about:
TGI Fridays