PHILADELPHIA-Rick's Cabaret International Inc. has signed a purchase agreement to acquire a 51% share of the End Zone Inc., which owns and operates Crazy Horse Too Cabaret. The 25,000-sf adult nightclub at 2908 S. Columbus Blvd. opened in 2006.

Under the terms of the two-part agreement, Houston-based Rick's will issue 225,000 shares of restricted common stock for 51% of the End Zone Inc., and a Rick's subsidiary, RCI Holdings Inc., will pay $3.5 million in cash for a 51% interest in the partnership entities that own the property where the club is located. The seller will retain a 49% interest in the club and the real estate.

In a Rick's SEC filing, the seller is identified as Vincent Piazza and the Piazza Family Ltd. Partnership. The shares of common stock are referred to as the TEZ shares, and the ownership entities as TEZ Real Estate LP and TEZ Management LLC, all based here.