RTTNews | Jul 26, 2021 10:10AM EDT

10:09 Monday, July 26, 2021 (RTTNews.com) - RCI Hospitality Holdings, Inc. (RICK) agreed to acquire 11 adult nightclubs, nine of which are controlled by club entrepreneur Troy Lowrie of Lakewood, CO; six related real estate properties; and associated intellectual property. The purchase price is about $88.0 million.

Closing is subject to transfer of all necessary permits, licenses, and other authorizations. closing on the bank financing; and other customary closing conditions for transactions of this kind.

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