Cosi To Explore Strategic Alternatives

Cosi Inc. (Nasdaq: COSI), a quick-casual sandwich shop operator, has formed a special committee to “evaluate strategic alternatives.” It also has retained North Point Advisors. The company’s stock closed trading Friday at $0.40 per share. 

PRESS RELEASE

Cosi, Inc. (NASDAQ: COSI), the premium convenience restaurant company, announced today that its Board of Directors has formed a special committee of independent directors to review and evaluate strategic alternatives to enhance shareholder value.

The members of the Special Committee are Mark Demilio and Karl Okamoto. The Special Committee has engaged North Point Advisors, LLC to serve as its financial advisor. The Company’s legal counsel is Cadwalader, Wickersham & Taft LLP.

About Cosi, Inc.

Cosi (http://www.getcosi.com) is a national premium convenience restaurant chain that has developed featured foods built around a secret, generations-old recipe for crackly crust flatbread. This artisan bread is freshly baked in front of customers throughout the day in open flame stone hearth ovens prominently located in each of the restaurants. Cosi’s warm and urbane atmosphere is geared towards its sophisticated, upscale, urban and suburban guests. There are currently 101 Company-owned and 51 franchise restaurants operating in eighteen states, the District of Columbia and the United Arab Emirates. The Cosi vision is to become America‘s favorite premium convenience restaurant by providing customers authentic, innovative, savory food while remaining an affordable luxury.

The Cosi menu features Cosi sandwiches, freshly tossed salads, melts, soups, Cosi bagels, flatbread pizzas, S’mores, snacks and other desserts, and a wide range of coffee and coffee-based drinks and other specialty beverages. Cosi restaurants are designed to be welcoming and comfortable with an eclectic environment. Cosi’s sights, sounds, and spaces create a tasteful, relaxed ambience that provides a fresh and new dining experience.