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GROUND ROUND RESTAURANTS, INC. PROPOSES PUBLIC OFFERING OF CONVERTIBLE SUBORDINATED DEBENTURES

 BOSTON, Dec. 10 /PRNewswire/ -- Ground Round Restaurants, Inc. (NASDAQ: GRXR) today announced that it proposes to make a public offering of approximately $35 million of Convertible Subordinated Debentures. The company expects to file a registration statement with the Securities and Exchange Commission for this offering prior to the end of 1993. The net proceeds from the offering will be used to repay bank indebtedness and to further facilitate the addition of new company-operated restaurants. The offering will be made only by means of a prospectus complying with the federal and state securities laws.
 -0- 12/10/93
 /CONTACT: Mary Conroy, investor relations of Ground Round Restaurants, 617-380-3121/
 (GRXR)


CO: Ground Round Restaurants, Inc. ST: Massachusetts IN: LEI SU: OFR

DJ-CM -- NE002 -- 2499 12/10/93 08:51 EST
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Publication:PR Newswire
Date:Dec 10, 1993
Words:128
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