Stockholders' Equity |
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Note 12 – Stockholders’ Equity Preferred Stock
The Company is authorized to issue 9,840,000 shares of preferred stock, excluding the Series A Preferred Stock, with a par value of $0.0001 per share. There were no shares of preferred stock that were issued or outstanding at June 28, 2026 or December 28, 2025, 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 June 28, 2026 and December 28, 2025, there were 31.7 million and 31.2 million shares of common stock outstanding, respectively.
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 and six periods ended June 29, 2025, the Company repurchased 0.2 million and 0.3 million shares, respectively, for an aggregate consideration of $0.6 million and $0.9 million, respectively. There were no stock repurchases in the three and six periods ended June 28, 2026. As of June 28, 2026, the Company had purchased 3.4 million shares for $19.3 million under the repurchase program.
Warrants In connection with the acquisition of Benihana and RA restaurants, 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 June 28, 2026 and December 28, 2025.
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