Seenu G. Kasturi, the President and Chief Financial Officer of ARC Group, Inc. acquired additional 38.37% stake in ARC Group, Inc. (OTCPK:ARCK) from William D. Leopold II for $0.56 million on August 23, 2017. Seenu G. Kasturi acquired 2.65 million Class A common stock from William D. Leopold II. Seenu G. Kasturi borrowed $0.23 million from the Kasturi Children’s Trust to pay for the shares and issued a promissory note to Kasturi Children’s Trust in the amount of $0.23 million in connection therewith. Seenu G. Kasturi also entered into a stock pledge and security agreement with Kasturi Children’s Trust pursuant to which the shares were pledged as collateral to secure Seenu G. Kasturi’s payment and performance under the promissory note issued to Kasturi Children’s Trust. The promissory note and stock pledge and security agreement have customary default provisions. Seenu G. Kasturi paid the remaining $0.33 million of the purchase price in cash out of personal funds. Post transaction Seenu G. Kasturi will own 3.34 million shares of common stock. Seenu G. Kasturi, the President and Chief Financial Officer of ARC Group, Inc. completed the acquisition of additional 38.37% stake in ARC Group, Inc. (OTCPK:ARCK) from William D. Leopold II on August 23, 2017.