An announcement from The ONE Group Hospitality Inc (STKS) is now available.
The ONE Group Hospitality, Inc. secured a substantial financing package, including a $350 million term loan and a $40 million revolving credit facility, to fund the acquisition of Safflower Holdings Corp., the entity behind the Benihana and RA Sushi restaurants. The acquisition, valued at $365 million, was accompanied by the issuance of preferred stock and warrants to key investors, enhancing the company’s financial flexibility and growth potential. Following the deal’s close, James Chambers and Scott Ross were appointed to the company’s Board of Directors, bringing expertise from their extensive backgrounds in investment and the leisure sector.
For a thorough assessment of STKS stock, go to TipRanks’ Stock Analysis page.
