RCI Hospitality repurchased 27,265 common shares for $1.5M in Q2

RCI Hospitality Holdings anticipates the closing in April of a $20.0M, 8.25% fixed rate, 10-year commercial bank loan, with a 20-year amortization schedule. The loan, expected to be secured by nine real estate properties appraised at $31.6M, would provide additional funds for working capital, at favorable commercial bank rates and terms. During Q2, RCI repurchased 27,265 common shares for $1.5M or an average of $56.12 per share, bringing the 6M24 total to 65,219 repurchased shares for $3.6M or an average of $55.23 per share. RCI had $13.0M in remaining repurchase authorization at March 31.