10.

Subsequent Events

Del Taco Merger

On June 30, 2015, the Company completed its Business Combination with DTH. Pursuant to the Merger Agreement, upon the effectiveness of the Merger on June 30, 2015, all shares of DTH stock then outstanding were converted into either (i) the right to receive cash and common stock of the Company (in the case of all DTH stockholders other than the Levy Newco Parties) or (ii) the right to receive only common stock of the Company (with the Levy Newco Parties having only the right to receive shares of common stock of the Company in exchange for their shares of DTH stock held prior to the Merger). In connection with the Closing, the Company redeemed a total of 1,115 shares of its common stock pursuant to the terms of the Company’s previous amended and restated certificate of incorporation, resulting in a total payment to redeeming stockholders of $11,150. In addition, the Company paid the following consideration to the former equity holders of DTH: (i) 16,553,540 shares of common stock of the Company (the “Stock Merger Consideration”) and (ii) $95 million (the “Cash Merger Consideration”). The consideration payable with respect to outstanding shares of DTH stock pursuant to the Merger was based on the same valuation of DTH as determined in connection with the Step 1 Investment, and the shares of common stock of the Company issued pursuant to the Merger were valued at a price of $10 per share. In addition, funds in the Trust Account were used to reimburse certain expenses accrued by the Company.

At the closing of the Merger, a total of 1,906,219 Founder Shares were transferred by the Sponsor to third party investors who funded the Step 1 Investment, excluding entities affiliated with the Levy Family.

Certain investors (collectively, the “Step 2 Co-Investors”) separately purchased from the Company at the closing of the Merger an aggregate of 3,500,000 shares of the Company’s common stock at a purchase price of $10.00 per share (the “Step 2 Co-Investment”). The net proceeds from the Step 2 Co-Investment were applied towards the Cash Merger Consideration.

For the three months ended June 16, 2015, the Company incurred approximately $2,075,000 of costs directly related to the Business Combination. These costs are included in other general, administrative and transaction expenses on the accompanying statements of operations.

In connection with the Closing, each outstanding unit of the Company was separated into its component share of common stock and one-half warrant. As of the Closing, there were 38,802,425 shares of the Company’s common stock issued and outstanding and warrants to purchase 12,639,623 shares of the Company’s common stock outstanding.

In connection with the Closing, the Company changed its name from Levy Acquisition Corp. to Del Taco Restaurants, Inc.

The Company is currently evaluating the purchase price allocation following the consummation of the Merger. It is not practicable to disclose the preliminary purchase price allocation or unaudited pro-forma combined financial information as of June 16, 2015 for this transaction, given the short period of time between the acquisition date and the issuance of these unaudited condensed consolidated financial statements.

Settlement in Principle of Purported Class Action

After the periods covered by the accompanying unaudited consolidated interim financial statements, the Company reached a settlement in principle of all claims asserted in the Complaint. The settlement resolves all claims that the June 11, 2015 definitive proxy filed by the Company is misleading or incomplete, as well as all other causes of action asserted in the case. The settlement in principle does not provide for any monetary payment to the plaintiff or the putative plaintiff class, but the plaintiff may request that the Circuit Court order the Company to pay its attorneys’ fees. Any final settlement will be subject to the Circuit Court’s approval.

Shelf Registration Statement

On July 2, 2015, the Company filed a Registration Statement on Form S-3 (File No. 333-205467) (the “Form S-3”) to register for resale the Founder Shares, the shares of common stock underlying the Private Placement Warrants, the shares of common stock underlying the Public Warrants, and the shares of common stock that the Company issued under the Merger Agreement and in the Step 2 Co-Investment. The Form S-3 was declared effective by the SEC on July 15, 2015.