Famous Dave's Announces Amendment and Extension of Credit Facility With Wells Fargo; Allows for $30M in Buybacks

Famous Dave's of America, Inc. DAVE today announced that it has amended its existing credit facility with Wells Fargo Bank, NA, to extend its revolving line of credit for an additional five years, to modify the maturity on its term loan to be coterminous with the credit facility, and to allow for an additional $30.0 million in stock repurchases over the next five years. The credit facility is available for general working capital purposes as well as for the repurchase of shares under the company's share repurchase program. At July 5, 2011, the principal amount of debt outstanding under the Company's amended and restated credit facility was $10.4 million.