BurgerFi Reaches Legal Settlement Agreement With Lion Point Capital, LP; Company Agreed To Pay Lion Point $1,350,000 In Installments In Accordance With The Schedule Set Forth In The Settlement Agreement, And Issue To Lion Point 300,000 Shares Of Series A Preferred Stock
Portfolio Pulse from Benzinga Newsdesk
BurgerFi International, Inc. (NASDAQ:BFI) has reached a legal settlement with Lion Point Capital, LP. The settlement includes a payment of $1,350,000 in installments and the issuance of 300,000 shares of Series A Preferred Stock to Lion Point. This resolves all claims related to previous litigation initiated by Lion Point against BurgerFi.
July 25, 2024 | 8:33 pm
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BurgerFi International, Inc. has reached a settlement with Lion Point Capital, resolving all prior claims. The settlement involves a $1.35M payment and issuance of 300,000 Series A Preferred Shares.
The settlement resolves ongoing litigation, which is likely to be viewed positively by investors as it removes legal uncertainties. The financial impact of the settlement appears manageable, and the issuance of preferred shares may not significantly dilute common shareholders.
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