Cracker Barrel Announces Proposed $275 Million Private Offering Of Convertible Senior Notes Due 2030

Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (NASDAQ:CBRL) today announced its intention to offer, subject to market conditions and other considerations, $275 million aggregate principal amount of convertible senior notes due 2030 (the "notes") in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Cracker Barrel also intends to grant the initial purchasers of the notes an option to purchase, for delivery within a period of 13 days from, and including, the date the notes are first issued, up to an additional $41.25 million aggregate principal amount of notes.