secwatch.observer — SEC 8-K summary
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Issuer:     RCI HOSPITALITY HOLDINGS, INC. (RICK)
CIK:        0000935419
Form:       8-K
Filed at:   2025-11-25T23:59:59+00:00
Accession:  0001628280-25-053979
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RCI Hospitality repurchases 821k shares from ADW Capital for $30M
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- Repurchased 821,000 shares; total consideration $30M: $8M cash plus $22M two-year unsecured note at 12% interest.
- Promissory note due Nov 21, 2027; 23 equal monthly payments of $1M principal+interest then lump sum.
- Note requires 50% of net cash from asset/subsidiary sales as prepayment; full acceleration on change of control.
- Centennial Bank temporarily reduced debt service coverage ratio to 1.25x (vs. 1.40x) through June 30, 2026.
- Mutual releases and non-disparagement clauses between RCIH and ADW Parties included in the agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/935419/000162828025053979/0001628280-25-053979-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/935419/000162828025053979/rick-20251121.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-053979

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