Dave & Buster's Issues Another $100 Million of Stock
The restaurant and gaming chain announced on Monday that it has struck a deal to sell over $100 million worth of its stock in exchange for a capital infusion. Dave & Buster's stores have been closed since March due to the COVID-19 pandemic, and management has already announced plans to push cash outflow to less than $50 million per week during the shutdown. The share offering pressured the stock early on Monday, reflecting the diluted earnings outlook and the relatively low price of the stock sales.