Biglari Holdings Announces Rights Offering was Over-Subscribed

Biglari Holdings Inc. BH ("Biglari Holdings" or the "Company") announced the completion of its previously announced rights offering, which expired at 5:00 p.m. (New York City time) on September 16, 2013.  Preliminary results indicate that the rights offering was over-subscribed. As a result, Biglari Holdings expects to receive net proceeds of approximately $75.7 million from the offering. Following the issuance of the newly subscribed shares, which is expected to occur within seven to 10 business days after the expiration date, Biglari Holdings will have approximately 1,720,602 shares outstanding. See full press release