Ruth’s Hospitality set to raise nearly $70M

HEATHROW Fla. Ruth’s Hospitality Group Inc., the parent of Ruth’s Chris Steak House and other upscale casual-dining chains, is taking steps to pay down debt by garnering as much as $69.7 million through a stock sale to a private equity group, a stock offering to shareholders and the sale of its headquarters building.

The company, which operates or franchises about 150 restaurants, also amended its credit facility, reducing its credit line, extending its maturity date

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