Del Taco Restaurants (TACO) Increases Buybacks of Common Stock and Warrants to $50M

August 23, 2016 8:32 AM EDT

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Del Taco Restaurants, Inc. (“Del Taco” or the “Company”), (NASDAQ: TACO, TACOW), the second largest Mexican-American QSR chain by units in the United States, operating restaurants under the name Del Taco, today announced that its Board of Directors has increased the repurchase program for the Company’s common stock and warrants to $50 million (raised from $25 million). The increased authorization is effective immediately and will expire upon completion of the repurchase program unless terminated earlier by the Board of Directors.

Purchases under the program may be made in open market or privately negotiated transactions (including, without limitation, the use of Rule 10b5-1 plans) in compliance with applicable federal securities laws. The Company has no obligation to repurchase common stock or warrants under this authorization, and the timing, actual number and value of securities purchased will be made at management’s discretion, taking into consideration the Company’s common stock and warrant prices, market conditions, and other factors.

Since the inception of the program in March 2016 through August 22, 2016, Del Taco has repurchased 990,555 shares at an average price per share of $9.58 and 476,806 warrants at an average price per warrant of $2.11 for an aggregate of $10.5 million with approximately $39.5 million remaining under the increased $50 million authorization.

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