Wake Up & Smell the Panini – Spicy Pickle, Inc (SPKL.OB) Evolves
The plan became a reality for Spicy Pickle (OTCBB: SPKL) yesterday, when the company closed a financing deal that should allow them to start opening several corporate-owned stores. These stores will be in addition to the franchised stores already popping up left and right (with more on the way). The impact for shareholders is straight-forward - owning their own restaurants means the company has much better top and bottom line potential. Details of the deal are simple enough - the company raised a net of about $5.7 million by selling a combination of convertible preferred shares and common stock warrants. The…