Shoney's says 75% of convertibles tendered

New York, Nov. 18 - Shoney's, Inc. said approximately 75% of its $15.5 million principal amount of outstanding Liquid Yield Option Notes due 2004 were tendered in its recent offer.

The Nashville restaurant operator previously announced it would pay $840 per $1,000 principal amount for the notes.

Earlier this year, Shoney's was acquired by affiliate of Dallas based Lone Star U.S. Acquisitions,

LLC and U.S. Restaurant Properties, making it a private company.

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