#SPB HOSPITALITY FULL#
#SPB HOSPITALITY PROFESSIONAL#

The Company has its headquarters in Nashville, TN.ДЇor additional information, visit About SPB Hospitality The Company presently operates 47 restaurants in 16 states.

#SPB HOSPITALITY PROFESSIONAL#

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.вЂќ

вЂњLonnie and Mark are true pioneers and respected leaders in the industry. вЂњWe are honored to acquire these storied brands and look forward to welcoming this experienced team into the SPB family,вЂќ said SPB Hospitality Chief Executive Officer, Jim Mazany. Parkey, President and Chief Executive Officer, added, вЂњThe 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.вЂќ After a thorough evaluation and strategic process, the Board is confident that this transaction provides excellent value to our shareholders.вЂќ

#SPB HOSPITALITY FULL#

Stout II, Executive Chairman of the Board of Directors, said, вЂњOur board evaluated a full range of strategic, financial and capital structure alternatives to best serve the interests of our shareholders. AlexanderвЂ™s shareholders, expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as well as other customary closing conditions. The transaction is expected to be completed early in the fourth quarter of 2021, subject to approval by J. AlexanderвЂ™s Board of Directors following a review of a wide range of strategic alternatives, which was first announced in August 2019, and continued in 2020 (until the onset of the pandemic) and 2021.

The CompanyвЂ™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 CompanyвЂ™s announcement of its commitment to completing the strategic alternatives process, and a premium of approximately 14% to the price on ВJuly 1, 2021.Д¬ertain of the CompanyвЂ™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. AlexanderвЂ™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 (вЂњSPB HospitalityвЂќ) will acquire the Company in an all cash transaction valued at approximately $220 million. AlexanderвЂ™sвЂќ) (NYSE: JAX), owner and operator of J.

Spb hospitality