SPB Hospitality is a leading operator and franchisor of full-service dining restaurants, spanning a national footprint of hundreds of restaurants and breweries in 38 states and the District of Columbia.
The Company has its headquarters in Nashville, TN.įor additional information, visit About SPB Hospitality The Company presently operates 47 restaurants in 16 states. is a collection of restaurants that focus on providing high quality food, outstanding professional service and an attractive ambiance. Morgan Securities LLC and Configure Partners LLC served as financial advisors and Hunton Andrews Kurth LLP served as legal counsel to SPB Hospitality. acted as financial advisor and Bass, Berry & Sims PLC acted as legal counsel to J. Partnering with the Company to harness the power of these brands is an incredible opportunity." "Lonnie and Mark are true pioneers and respected leaders in the industry. "We are honored to acquire these storied brands and look forward to welcoming this experienced team into the SPB family," said SPB Hospitality Chief Executive Officer, Jim Mazany. Parkey, President and Chief Executive Officer, added, "The merger transaction will provide liquidity at a significant premium for our shareholders while providing a home for our concepts, our employees, and our loyal guests with SPB Hospitality."
The Company’s shareholders will receive $14.00 in cash per share of common stock of the Company, representing a 78% percent premium to the closing share price on February 9, 2021, the last trading day prior to the Company’s announcement of its commitment to completing the strategic alternatives process, and a premium of approximately 14% to the price on July 1, 2021.Ĭertain of the Company’s officers, directors and shareholders including Newport Global Opportunities Fund I-A LP and Ancora Holdings LLC, holding, in the aggregate, as of July 1, 2021, over 20% of the outstanding shares of Company common stock, entered into a voting agreement with SPB Hospitality pursuant to which they agreed, among other things, to vote their respective shares of Company common stock in favor of the merger. Alexander’s Restaurant, Redlands Grill, Stoney River Steakhouse and Grill and selected other restaurants, today announced that the Company entered into a merger agreement under which SPB Hospitality LLC ("SPB Hospitality") will acquire the Company in an all cash transaction valued at approximately $220 million. Alexander’s") (NYSE: JAX), owner and operator of J. NASHVILLE, Tenn., July 02, 2021-( BUSINESS WIRE)-J. Shareholders to Receive $14.00 Per Share in Cash
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