Open Letter to RAVE Management and Board of Directors

November 16, 2015 at 4:02 pm Leave a comment

Dear Rave Management and Board of Directors,

On the eve of the Rave Restaurant Group annual meeting we wanted to offer up a few ideas for your consideration –

1) If you love Pie Five like we do, set it free. IPO style.

Sell a small slice of Pie Five to investors who will be hungry for more. RAVE stock should never be sold for less than the price of a Pie Five Pizza ($6.99), plus we think it goes without saying that investors would be all over a shot at owning the first pure publicly traded pure play in the fast casual pizza space. So drop the ATM offering and lever up for a few months until you can get the S-1 filed. We suspect you are already thinking about parting with part of Pie Five, we just think investors should be given a clear time line for when you expect this process to start. Can you let us know what you are thinking? #FreePieFive

2) Please consider having an open conference call each quarter when you report earnings.

If we are going to be in the “circle of crust”, we need to be able to communicate openly about things (like IPO timelines). #CanWeTalk

3) Please consider getting a Pie Five promotional deal with Stephen Curry.

It has occurred to us that it would be really cool if the best fast casual pizza chain in the world could pair up with the greatest basketball player in the world. #StephRules #SorryLJ

Thanks in advance for your consideration,

GrooveVC

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