RCI Announces Closing of $18.7 Million Bank Real Estate Loan

HOUSTON, January 26, 2022 /PRNewswire/ — RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the completion of a $18.74 million, 5.25% fixed rate, 10-year commercial bank real estate loan (subject to adjustment in five years) with a 20-year amortization schedule.

The loan is secured by 11 properties, most of which were acquired for cash as part of recent acquisitions.

Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., said, “We are pleased to be able to execute this loan, which will provide additional funds for working capital, at favorable commercial bank rates and terms.”

Media and investor contacts

Gary Fischman and Steven addresser at 212-532-3232 or [email protected] and [email protected]

SOURCE RCI Hospitality Holdings, Inc.