SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current
Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 15, 2006
DAVE & BUSTERS, INC.
(Exact name of registrant as specified in its charter)
Missouri |
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001-15007 |
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43-1532756 |
(State of |
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incorporation) |
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Number) |
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Identification Number) |
2481 Manana Drive
Dallas TX 75220
(Address of principal executive offices)
Registrants telephone number, including area code: (214) 357-9588
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the reporting obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 of the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2(b) Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4(c) Exchange Act
Item 1.01. Entry into a Material Definitive Agreement.
On November 15, 2006, Dave & Busters, Inc. (the Company) announced that it had completed a transaction involving the sale and simultaneous leaseback of three of its restaurant locations. The restaurant locations were sold to National Retail Properties, LP (NRP) for $29.6 million. Net proceeds of approximately $28.3 million from the transaction were used to pay down outstanding balances on the Companys senior credit facility and revolving credit facility. Each of the three restaurant locations was simultaneously leased by NRP to the Company for a 17.5 year term.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On November 15, 2006, the Company announced the resignation of Jason B. Fortin from its Board of Directors, effective immediately.
On November 15, 2006, the Company announced that Daniel Y. Han had been elected to the Board of Directors of the Company. Mr. Han, 28, has served as Vice President of Wellspring Capital Management, LLC since May 2006, previously serving as Associate from September 2002 until March 2005 and Senior Associate from March 2005 until May 2006. From July 2000 until September 2002, Mr. Han was an Analyst in the Mergers and Acquisitions Group of J.P. Morgan Securities, Inc.
Item 7.01. Regulation FD Disclosure.
On November 17, 2006, the Company issued a press release regarding a sale-leaseback transaction completed by the Company. A copy of the press release is furnished herewith as Exhibit 99.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibit.
The following is filed as an exhibit to this report.
99 Press Release dated November 17, 2006.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DAVE & BUSTERS, INC. |
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Date: November 21, 2006 |
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/s/ Jay L. Tobin |
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Jay L. Tobin |
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Senior Vice President |
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Exhibit 99
For further information contact: |
DALLASNovember 17, 2006Dave & Busters, Inc., a leading operator of upscale restaurant/entertainment complexes, today announced that it has completed the sale and simultaneous leaseback of three restaurant locations. The transaction was completed through National Retail Properties, Inc. (NYSE:NNN) at a sale price of $29.6 million. Net proceeds from the transaction were used to pay down outstanding balances on the Companys senior credit facility and the Companys revolving credit facility.
Celebrating over 23 years of operations, Dave and Busters was founded in 1982 and is one of the countrys leading restaurant/entertainment concept with 48 locations throughout the United States and Canada. More information on the Company is available on the Companys web sites, www.daveandbusters.com.
Safe Harbor Statements Under the Private Securities Litigation Reform Act of 1995
Statements in this press release regarding Dave & Busters business which are not historical facts are forward-looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see Risk Factors in the Companys Registration Statement on Form S4 filed July 26, 2006, SEC File Number 333-136040.