DENVER — Spicy Pickle has announced the commencement of public trading for its common stock on the Over The Counter Bulletin Board (OTC BB) quotation medium, under the ticker symbol SPKL. The company completed its own self-underwritten initial public offering, and the stock recently opened for trading.
Empire Financial Group Inc. of Longwood, Fla., served as sponsoring brokerage firm. Spicy Pickle completed its own IPO by selling 4,352,780 shares of its common stock, priced at 40 cents, for gross proceeds of $1.7 million.
Spicy Pickle has 26 units open in nine states. By the end of 2007, Spicy Pickle anticipates opening approximately 14 more units, bringing its network to 40 restaurants in 13 states. Nearly 50 franchise development agreements also have been signed, according to a news release.
