TH International Limited (THCH) Announces Significant Financing from Founding Shareholders
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Tims China Announces Significant Financing from Founding Shareholders
July 1, 2024 8:15 AM EDTSHANGHAI, China and NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- TH International Limited (Tims China (Nasdaq: THCH)), the exclusive operator of Tim Hortons coffee shops in China, secured an aggregate of up to $65 million of financing and additional funding from its founding shareholders, Cartesian Capital Group, LLC (Cartesian) and Restaurant Brands International Inc. (RBI (NYSE: QSR)).
The financing includes $50 million in convertible notes, of which $40 million was issued at closing, with the balance to be funded over the coming 7 months, subject in each case to certain conditions.... More
