Stockholder's Equity |
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| Stockholders' Equity |
Note 13 – Stockholder’s Equity Preferred Stock The Company is authorized to issue up to 9,840,000 million shares of preferred stock, excluding the Series A Preferred Stock, with a par value of $0.0001. There were no shares of preferred stock that were issued or outstanding at March 30, 2025 or December 31, 2024, other than the Series A Preferred Stock discussed above. Common Stock The Company is authorized by its amended and restated certificate of incorporation to issue up to 75.0 million shares of common stock, par value $0.0001 per share. As of March 30, 2025 and December 31, 2024, there are 31.0 million shares of common stock outstanding.
Stock Purchase Program
The Company’s Board of Directors authorized a repurchase program of up to $15.0 million of outstanding common stock that was completed in December 2023. In March 2024, the Company’s Board of Directors authorized an additional $5.0 million of repurchases under this program. During the three periods ended March 30, 2025, the Company purchased 0.1 million shares for aggregate consideration of $0.3 million. As of March 30, 2025, the Company purchased 3.1 million shares for $18.5 million under the program. There were no stock repurchases in the first quarter of 2024.
Warrants
In connection with the Benihana Acquisition, on May 1, 2024, the Company issued both market and penny warrants to the following holders of the Series A Preferred Stock. The holders of the penny warrants are entitled to receive any dividends issued to common stockholders. The Company has the following warrants to purchase shares of common stock outstanding as of March 30, 2025 and December 31, 2024.
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