Ruth’s Chris, or Ruth’s Hospitality, Raising Cash (RUTH)

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By Douglas A. McIntyre Updated Published

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Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH) has filed a shelf registration to raise capital. The owner of the Ruth’s Chris Steak House chain has filed a mixed securities shelf to raise up to $200 million in new capital.

The filing will allow the company to sell any combination of Common Stock, Preferred Stock, Depositary Shares, Warrants, Subscription Rights, Debt Securities, Share Purchase Contracts, and Share Purchase Units.  The company said the use of funds will be earmarked for the repayment of debt and/or for general corporate and working capital purposes.

The “additional registrants”  in the actual filing look to be operations in Texas, Louisiana, and Florida.  For a comparison on the size of the offering to the company today, the market cap as of today’s close at $3.40 per share was listed as $82+ million.

A personal note (and plea) from Houston…..  Dear Ruth, Please remodel your Richmond branch in Houston.  That version of Ruth’ Chris is long in the tooth and could use a face lift.

The full SEC Filing is here.

Jon C. Ogg
June 25, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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