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Ruth's Hospitality's (RUTH -2.5%) financial restructuring, which includes a PIPE transaction, a...

Ruth's Hospitality's (RUTH -2.5%) financial restructuring, which includes a PIPE transaction, a share offering and amended terms to its credit agreement, comes at a high cost to shareholders. "The dilutive impact to existing shareholders seems to exceed the deleveraging benefits," Raymond James says, especially in light of early signs of stability on high-end dining.
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