Rattlesnake Completes Interim Financing; New Board Named; Operating Costs Reduced; Steakhouse Concept Planned.NEW YORK--(BUSINESS WIRE)--June 24, 1998--The Rattlesnake rattlesnake, poisonous New World snake of the pit viper family, distinguished by a rattle at the end of the tail. The head is triangular, being widened at the base. The rattle is a series of dried, hollow segments of skin, which, when shaken, make a whirring sound. Holding Company Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :RTTL RTTL Ring Tone Transfer Language RTTL Rescue and Target Towing Launch (British Military vessel) RTTL Run to the Light (Trouble song) ), announced today that it has completed a first stage financing in anticipation of its planned second stage financing this summer. Commonwealth Associates acted as placement agent. A portion of the proceeds will be used for conversion costs for its Danbury, Conn. Rattlesnake(R) Grill to an Ottomanelli New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Steakhouse prototype, the evolution of the company's existing Ottomanelli Cafe(R) Restaurant concept. RTTL also announced that a new Board of Directors has been named: Stephan A. Stein, Managing Director of Corporate Finance, Commonwealth Associates, the New York based investment bank, as Chairman; Nicolo Ottomanelli, RTTL CEO/president as Vice-Chairman; Joseph Adinaro; Louis Malikow; and Roger Rankin. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Ottomanelli, whose management team was installed at RTTL after the March 1998 merger, "The new Rattlesnake has completed the divestiture of under performing locations, reduced corporate overhead, re-negotiated and retired debt; and with its complementary casual dining themes of Rattlesnake(R) Grills, Ottomanelli Cafe(R) Restaurants and the upcoming Ottomanelli New York Steakhouses, looks forward to positive activity and growth through company owned and franchised operations, mail order and private label goods sales. Stein added, "The new Rattlesnake Holding Company is poised to carry out a turnaround with experienced management, alternative restaurant themes that can be managed centrally, reduced operating costs operating costs npl → gastos mpl operacionales , franchising and private label and mail order formats obtained in the Ottomanelli merger, and an improved balance sheet." RTTL is a diversified food service company with Rattlesnake Southwestern Grill casual dining restaurants in South Norwalk This article is about the SoNo neighborhood in Norwalk. For the SoNo district in Atlanta, see SoNo (Atlanta). For the band, see Sono (band). South Norwalk (also known as SoNo) is a neighborhood in Norwalk, Connecticut. and Danbury, Conn. and Flemington, N.J. and two Ottomanelli Cafe(R) restaurants in Paramus, N.J., franchised restaurant operations in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , New York (5 Ottomanelli Cafe(R) restaurants) and mail order and private label goods divisions soon to be launched. An Ottomanelli New York Steakhouse theme prototype is in development for a planned 1998 opening. The forward looking statements included in this news release are based upon management's current expectations. In light of the assumptions and uncertainties inherent in forward looking information, the inclusion of such information should not be regarded as a representation by the company or any other person that the plans of the company will be realized or that positive trends in financial results will occur.
CONTACT: Stephan A. Stein, Chairman
Fax: 212/223-4756
Nicolo Ottomanelli, President
Phone: 212/452-2359
Fax: 212/452-2971
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion