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

Author: Benzinga Newsdesk | July 25, 2024 04:33pm

BurgerFi International, Inc. (NASDAQ:BFI, BFIIW))))) ("BurgerFi" or the "Company"), owner of the high-quality, casual dining pizza brand Anthony's Coal Fired Pizza & Wings ("Anthony's") and one of the nation's leading fast-casual "better burger" dining concepts through the BurgerFi brand, announced today that the Company and Lion Point Capital, LP ("Lion Point") entered into a Settlement Agreement (the "Settlement Agreement") pursuant to which, among other things, the Company and Lion Point agreed to resolve all claims between Lion Point and the Company existing as of, or prior to, the date of the Settlement Agreement related to the previously disclosed litigation initiated by Lion Point against the Company.

 

Pursuant to the Settlement Agreement, the Company agreed to, among other things, (i) pay Lion Point $1,350,000 in installments in accordance with the schedule set forth in the Settlement Agreement, and (ii) issue to Lion Point 300,000 shares of Series A Preferred Stock (the "Preferred Shares"), in each case subject to terms and conditions set forth in the Settlement Agreement.

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