Thread: Cheesecake Factory shares soar after $200 million Roark Capital investment

Cheesecake Factory shares soar after $200 million Roark Capital investment

Cheesecake Factory Inc. shares soared 9.7% in Monday premarket trading after the restaurant chain announced a $200 million investment from private-equity firm Roark Capital. Paul Ginsberg, president of Roark, will join the company's board. "This transaction not only meaningfully enhances our liquidity position to navigate the near-term COVID-19 landscape and get our affected staff members back to work as soon as practicable, but also importantly, solidifies our ability to manage the business for the long-term for all of our stakeholders once we emerge on the other side of this crisis," said Cheesecake Factory Chief Executive David Overton in a statement. Cheesecake Factory stock has slumped more than 60% over the past year while the S&P 500 index is down 1.1% for the period.

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