Roark to Sell and Convert Its Convertible Preferred Stock in The Cheesecake Factory

Paul, Weiss is advising affiliates of Roark Capital in the sale and conversion of their convertible preferred stock in The Cheesecake Factory Incorporated, a California-based experiential dining company. The Cheesecake Factory that it has entered into an agreement with Roark to repurchase and convert all of the convertible preferred stock held by Roark. The Cheesecake Factory will finance the repurchase of the convertible preferred stock by issuing $300,000,000 aggregate principal amount of convertible senior notes due 2026 and $175,000,000 of common stock in separate public offerings.

Paul, Weiss previously advised Roark in its $200 million convertible preferred stock investment in April 2020.

The Paul, Weiss team includes, among others, corporate partner Jeffrey Marell; and tax partners Scott Sontag and Patrick Karsnitz.