Franchise Group Inc - FRG STOCK NEWS

Franchise Group (NASDAQ: FRG) has announced an offering of $650 million in senior secured notes due 2025. Proceeds will be utilized to repay existing debt and cover associated fees. The notes are expected to be secured by certain assets and will not be registered under the Securities Act, thus available only to qualified institutional buyers. Franchise Group operates over 4,000 locations through its brands such as Liberty Tax Service and The Vitamin Shoppe. This move aims to strengthen its financial position while navigating market conditions.

Franchise Group (FRG) reported preliminary Q3 2020 operating statistics, projecting revenues of at least $550 million and net losses of at least $(9.5 million). Year-to-date revenue stands at $1.655 billion and net income at $28.4 million. Adjusted EBITDA for Q3 is estimated at $47.5 million, totaling $194.5 million for the nine months. Notable same-store sales increases include 15% at American Freight and 14.7% at Buddy's. The firm plans a conference call on November 4, 2020 to discuss financial results and outlook.

Franchise Group (NASDAQ: FRG) closed its offering of 1,200,000 shares of 7.50% Series A Cumulative Perpetual Preferred Stock at $25.00 per share, raising approximately $29.1 million in net proceeds. The funds will be used for general corporate purposes, including acquisitions. The offering allows underwriters a 30-day option for an additional 180,000 shares. Preferred Stock dividends will offer a fixed annual rate of $1.875. Shares are expected to trade on NASDAQ as 'FRGAP' within 30 days.

Franchise Group (NASDAQ: FRG) announced the pricing of an underwritten public offering of 1,200,000 shares of 7.50% Series A Cumulative Perpetual Preferred Stock at $25.00 per share, raising gross proceeds of $30 million. The offering includes a 30-day option for underwriters to purchase an additional 180,000 shares. The expected closing date is on or about September 18, 2020. Proceeds will fund general corporate purposes, including future acquisitions. The Preferred Stock is anticipated to start trading under the symbol 'FRGAP' within 30 business days post-closing.

Franchise Group (NASDAQ: FRG) announced an underwritten public offering of its Series A Cumulative Perpetual Preferred Stock, priced at $25.00 per share. The offering includes a 30-day option for underwriters to purchase additional shares. Proceeds will be used for general corporate purposes, including future acquisitions and investments. The offering is made under an effective registration statement with the SEC. The company operates over 4,100 locations in the U.S. and Canada, with brands like Liberty Tax Service and The Vitamin Shoppe.

Franchise Group (NASDAQ: FRG) announced a quarterly dividend of $0.25 per share, set to be paid on approximately October 15, 2020. This dividend will benefit stockholders who are on record as of the close of business on September 15, 2020. Franchise Group operates over 4,100 locations primarily in the U.S. and Canada across various businesses including Liberty Tax Service and The Vitamin Shoppe.

The Vitamin Shoppe and Instacart have announced a nationwide partnership enabling same-day delivery from over 720 Vitamin Shoppe and Super Supplements locations across the U.S. Customers can receive health and wellness products delivered to their homes as quickly as one hour. This marks the first time Vitamin Shoppe offers such a delivery service. The partnership aims to provide customers with a convenient way to access thousands of items, including vitamins, supplements, and healthy snacks.

The Vitamin Shoppe has appointed Laura Coffey as Executive Vice President and Chief Financial Officer, effective immediately. With 23 years of experience at Pier 1 Imports, Coffey will lead Corporate Finance, Financial Planning and Analysis, and Risk Management. Her previous roles included EVP and Interim CFO, providing her with a strong retail operations background. CEO Sharon Leite expressed confidence in Coffey's ability to enhance financial strategies for growth in the health and wellness sector. Coffey aims to optimize resources and drive strategic growth amidst current market dynamics.

The Vitamin Shoppe, a subsidiary of Franchise Group (NASDAQ: FRG), has launched its new CBD HQ concept, enhancing its offerings in the CBD wellness market. This initiative, which includes over 20 trusted brands such as Garden of Life and Charlotte's Web, expands product availability to 572 locations across 39 states, Washington, D.C., and Puerto Rico. New brands like Papa & Barkley and Hydrocanna are included in the assortment of ingestible and topical CBD products. The company aims to meet rising customer demand for CBD solutions, capitalizing on its established reputation as a retailer of trusted wellness products.