Jan 12 · 7:28:00 AM · Source: Restaurant News

Restaurant News reports that Cosi completed last week a shareholder rights offering that will raise about $5 million. Cosi will issue 10 million shares. Shareholders were given one-to-one subscription rights to acquire 0.2447 shares of common stock at a subscription price of 50 cents per full share. Shares closed at 75 cents per share on Monday. Read more: http://www.nrn.com/breakingNews.aspx?id=377994#ixzz0cOsKOPUp
Seems like good timing for the rights offer. They go from 40 million to 50 million shares outstanding (a 25% dilution) and with the current market environment the stock price didn't go down at all.

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by Rich Pike