KeyBanc Capital Markets and Raymond James were the joint bookrunners
By Devika Patel
Knoxville, Tenn., June 25 – Kona Grill, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $6.38 million greenshoe in full for total proceeds of $43.38 million. The deal was announced on June 16 and priced for $37 million with the greenshoe on June 20. The offering was conducted alongside a $5.55 million secondary offering.
The company sold 2,345,000 common shares at $18.50 apiece. The price per share is a 2.32% discount to the June 19 closing share price of $18.94. Of the shares, 345,000 were part of the fully exercised greenshoe.
Selling stockholders sold an additional 300,000 shares in the secondary sale.
KeyBanc Capital Markets and Raymond James were the joint bookrunning managers.
Proceeds will be used for new unit expansion, remodel and maintenance capital expenditures, working capital and other general corporate purposes.
Scottsdale, Ariz.-based Kona Grill is a chain of restaurants.
| Issuer: | Kona Grill, Inc.
|
| Issue: | Common shares
|
| Amount: | $43,382,500 (including $6,382,500 greenshoe)
|
| Shares: | 2,345,000
|
| Price: | $18.50
|
| Warrants: | No
|
| Bookrunners: | KeyBanc Capital Markets and Raymond James
|
| Co-managers: | Feltl & Co., Janney Montgomery Scott, Lake Street Capital Markets and Wunderlich Securities
|
| Announcement date: | June 16
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Stock symbol: | Nasdaq: KONA
|
| Stock price: | $18.94 at close June 19
|
| Market capitalization: | $168.92 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
