LAKE FOREST, Calif.--(BUSINESS WIRE)--Del Taco Restaurants, Inc. (“Del Taco” or the “Company”) (NASDAQ:TACO, TACOW), the second largest Mexican-American QSR chain by units in the United States, received numerous inquiries after the market close on July 7, 2016 regarding three Form 4 filings filed with the Securities and Exchange Commission on July 7, 2016 that it would like to clarify so as to avoid confusion or misinterpretation.
Levy Acquisition Sponsor, LLC owned common stock (known as founder shares) and certain private placement warrants of the Company, which were both held in escrow until June 30, 2016. Following expiration of the lock-up period applicable to these securities, the securities were released from escrow and, on July 6, 2016, distributed by Levy Acquisition Sponsor to its underlying members pro rata in accordance with their ownership interests for no consideration. The members of Levy Acquisition Sponsor consist of entities controlled by members of the Company’s Board of Directors, trusts for the benefit of the children of our chairman of the Board, Lawrence F. Levy, and employees of Mr. Levy’s family office, Levy Family Partners, LLC. There is no change in the members’ pecuniary interest in the shares and warrants as a result of the distribution.
About Del Taco Restaurants, Inc.
Founded in 1964 in Southern California, Del Taco (NASDAQ:TACO) is the nation’s second largest Mexican Quick Service Restaurant chain. Known for serving Mexican and American favorites prepared fresh in every restaurants’ working kitchen, Del Taco’s menu items taste better because they are made with fresh ingredients like cheddar cheese grated from 40-lb blocks, hand chopped pico de gallo, fresh sliced avocado, slow cooked beans made from scratch, and fresh-grilled marinated chicken and carne asada steak. In June 2016, Del Taco reinvigorated its UnFreshing Believable® marketing campaign to further communicate its commitment to serve guests everything that they love, including choosing not to choose between tacos and fries, fresh prep and fair price, or great tasting food and the convenience of a drive thru. With nearly 550 restaurants in 16 states, Del Taco serves more than three million guests each week. For more information, follow Del Taco on Twitter, Facebook and Instagram or visit www.deltaco.com.