CKE Restaurants Stock Sale Raises $71.6 Million

Restaurant holding company CKE Restaurants Inc. said it sold 2.5 million common shares for $71.6 million, or $28.62 1/2 each. Proceeds from the offering will be used to repay up to $36 million in debt and to provide working capital. CKE, which operates the Carl’s Jr. chain of burger restaurants and other food outlets, would not say whether it plans to make further acquisitions. The company recently acquired small chains based in Utah and Texas. The company’s stock was unchanged at $28.62 1/2 a share on the New York Stock Exchange.