NDLS News & Events

Noodles & Company trading halted, news pending

Noodles & Company announced that it plans to effect a 1-for-8 reverse stock split of its Class A common stock, par value $0.01 per share, that is expected to become effective on February 18 at 12:01 a.m.. Eastern Time. The reverse stock split is being implemented with the goal of bringing the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq.

Fourth quarter system-wide comparable sales increased 6.6%, comprised of a 7.3% increase at company-owned restaurants and a 3.8% increase at franchise restaurants.

Galloway Capital Partners announced that it has acquired a 6.01% stake in Noodles & Company. Galloway Capital said that Noodles' shares are materially undervalued and that management and the board should take decisive steps to enhance shareholder value through accelerated asset sales, debt reduction, and the restoration of a sustainable capital structure.