The ONE Group Hospitality, Inc. Announces Expiration of Public Warrants
NEW YORK-- The ONE Group Hospitality, Inc. (NASDAQ:STKS) announced today that the Company’s 5,750,000 Public Warrants have expired as of February 27, 2016. Each Public Warrant entitled the holder to purchase one share of common stock of the Company at an exercise price of $5.00 per share. The Company's Public Warrants traded on the OTCQB under the symbol “STKSW”.
As a result of the expiration of the Public Warrants, an aggregate of 1,437,500 shares of common stock shall be forfeited by the Company’s initial stockholders that held shares prior to the Company’s initial public offering and such shares shall be cancelled. Accordingly, there will be a total of 24,989,560 shares of common stock outstanding after giving effect to the forfeitures.
About The ONE Group
The ONE Group (Nasdaq:STKS) is a global hospitality company that develops and operates upscale, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both nationally and internationally. The ONE Group’s primary restaurant brand is STK, a modern twist on the American steakhouse concept with locations in major metropolitan cities throughout the U.S. and Europe. STK Rebel, a more accessibly priced STK with a broader menu, is an extension of the STK brand. The ONE Group’s food and beverage hospitality services business, ONE Hospitality, provides the development, management and operations for premier restaurants and turn-key food and beverage services within high-end hotels and casinos. Additional information about The ONE Group can be found at www.togrp.com.
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Investor Contact:
ICR
Michelle Epstein
646-277-1224
Source: The ONE Group Hospitality, Inc.
Released February 29, 2016
