RCI Hospitality : Announces Closing of $18.7 Million Bank Real Estate Loan - Form 8-K
January 27, 2022 at 10:26 pm
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RCI Announces Closing of $18.7 Million Bank Real Estate Loan
HOUSTON-January 26, 2022 - RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the closing of an $18.74 million, 5.25% fixed rate, 10-year commercial bank real estate loan (subject to one adjustment in five years), with a 20-year amortization schedule.
The loan is secured by 11 properties, most of them acquired for cash as part of recent acquisitions.
Eric Langan, President & CEO of RCI Hospitality Holdings, Inc., said, "We're pleased to execute this loan, which provides additional funds for working capital, at favorable commercial bank rates and terms."
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com
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RCI Hospitality Holdings Inc. published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 22:25:01 UTC.
RCI Hospitality Holdings, Inc. is a holding company, which operates through its subsidiaries. The Company is engaged in various activities in the hospitality and related businesses. The Companyâs all services and management operations are conducted by its subsidiaries, including RCI Management Services, Inc. It operates a total of 70 establishments, which offers live adult entertainment, including two that are under renovation/remodeling, and/or restaurant and bar operations, including one food hall. It also operates a business communications company serving the multi-billion-dollar adult nightclubs industry. The Company has three segments: Nightclubs, Bombshells and Other. Its Nightclubs portfolio includes a variety of brands and formats that target different customer demographics. Its nightclubs are located around the country in New York City, Chicago, Dallas-Fort Worth and others. Bombshells Restaurant & Bar is a military-themed casual dining chain with a focus on sports and fun.
RCI HOSPITALITY HOLDINGS, INC. 
