Annual report pursuant to Section 13 and 15(d)

Business Combination (Tables)

v3.20.4
Business Combination (Tables)
12 Months Ended
Dec. 31, 2020
Business Combination  
Summary the fair value of identified assets acquired and liabilities assumed as of the acquisition date

The following table summarizes the fair value of identified assets acquired and liabilities assumed as of the acquisition date (amounts in thousands):

 

 

 

 

Net assets acquired:

    

 

 

Cash

 

$

450

Current assets, excluding cash

 

 

2,830

Property and equipment

 

 

31,781

Operating lease right-of-use assets

 

 

42,398

Intangible assets

 

 

17,400

Other assets

 

 

692

Current liabilities

 

 

(7,690)

Deferred tax liability

 

 

(4,044)

Operating lease liabilities

 

 

(46,364)

Total net assets acquired

 

$

37,453

 

 

 

 

Purchase consideration:

 

 

 

Contractual purchase price

 

 

25,000

Apportionment of rent and utilities

 

 

775

Assumption of real estate lease consultant contract

 

 

465

Escrow deposit

 

 

250

Consideration paid

 

$

26,490

 

 

 

 

Bargain purchase gain attributable to Kona Grill acquisition

 

$

10,963

 

Schedule of information showing pro forma results of operations

Amounts are in thousands, except earnings per share related data.

 

 

 

 

 

 

For the year ended

 

 

December 31,  2019

Total revenues

 

$

196,906

Net income attributable to The ONE Group Hospitality, Inc.

 

$

10,789

Net income attributable to The ONE Group Hospitality, Inc. per share:

 

 

 

Basic net income per share

 

$

0.38

Diluted net income per share

 

$

0.36