Rave Restaurant Group, Inc. acquired 12.35% stake in Hallmark Financial Services, Inc. from Hallmark Insurance Company, Hallmark Specialty Insurance Company and American Hallmark Insurance Company of Texas for $3.6 million.
December 22, 2022
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Rave Restaurant Group, Inc. (NasdaqCM:RAVE) acquired 12.35% stake in Hallmark Financial Services, Inc. (NasdaqGM:HALL) from Hallmark Insurance Company, Hallmark Specialty Insurance Company and American Hallmark Insurance Company of Texas for $3.6 million on December 21, 2022. Rave Restaurant purchased from certain direct or indirect subsidiaries of Hallmark an aggregate of 2,246,086 shares of Hallmark's common stock at a price of $1.60 per share. The transaction was approved by the Audit Committee of Rave Restaurant.
Rave Restaurant Group, Inc. (NasdaqCM:RAVE) completed the acquisition of 12.35% stake in Hallmark Financial Services, Inc. (NasdaqGM:HALL) from Hallmark Insurance Company, Hallmark Specialty Insurance Company and American Hallmark Insurance Company of Texas on December 21, 2022.
Rave Restaurant Group, Inc. franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Company, through its subsidiaries, franchises pizza buffet (Buffet Units), delivery/carry-out (Delco Units) and express (Express Units) restaurants under the trademark Pizza Inn and franchises fast casual pizza restaurants (Pie Five Units) under the trademark Pie Five Pizza Company (Pie Five). It also licenses Pizza Inn Express (PIE), kiosks under the trademark Pizza Inn. Its segments include Pizza Inn Franchising, Pie Five Franchising and Company-Owned Restaurants. The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. The Company-Owned Restaurants segment includes sales and operating results for all Company-owned restaurants. It facilitates food, equipment, and supply distribution to its domestic and international system of restaurants through agreements with third party distributors.
Rave Restaurant Group, Inc. acquired 12.35% stake in Hallmark Financial Services, Inc. from Hallmark Insurance Company, Hallmark Specialty Insurance Company and American Hallmark Insurance Company of Texas for $3.6 million.
RAVE RESTAURANT GROUP, INC. 
