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Olshan Represents Dealer-Manager in $6.6 Million Registered Rights Offering

September 30, 2015

Olshan represented Source Capital Group, Inc., a full-service investment banking firm, which served as the dealer-manager in a registered subscription rights offering by Chanticleer Holdings, Inc. (Nasdaq: HOTR), an operator of fast casual restaurant brands including Hooters and American Burger Company, that closed on September 28, 2015.

Pursuant to the rights offering, which was made under Chanticleer’s effective Form S-3 “shelf” registration statement, Chanticleer distributed subscription rights to all of its shareholders of record as of September 4, 2015, entitling them to purchase shares of the company at $1.35 per share, upon exercise of their basic and over-subscription rights, during the ten-day offering period. On September 22, 2015, at the expiration of the offering, Chanticleer accepted subscriptions for 4,479,892 shares, totaling $6,047,855 in cash proceeds. On September 27, 2015, Chanticleer additionally accepted a standby purchase from an affiliate of Source Capital Group for 414,800 shares, or $559,980 in cash proceeds.  As a result, Chanticleer received aggregate proceeds from the rights offering of $6,607,835.  The proceeds are being used for restaurant acquisitions.

Leading the rights offering representation was corporate partner Spencer G. Feldman, assisted by Kenneth A. Schlesinger and Jason D. Cabico.

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