• J Alexanders Holdings Inc (NYSE: JAX) will be acquired by SPB Hospitality LLC, a Houston-based restaurant operator, in an all-cash transaction valued at about $220 million.

  • The company’s shareholders will receive $14.00 in cash per share, representing a 14% premium to the closing share price on Thursday, July 1, 2021.

  • The transaction is expected to be completed early in the fourth quarter of 2021.

  • “The merger transaction will provide liquidity at a significant premium for our shareholders while providing a home for our concepts, our employees, and our loyal guests with SPB Hospitality,” said CEO Mark A. Parkey.

  • J. Alexander’s operates restaurant brands like Redlands Grill, Stoney River Steakhouse, and Grill.

  • The company’s cash flow from operations for Q1 FY21 was $4.81 million, and the cash and equivalents totaled $15.3 million as of April 4, 2021.

  • Price action: JAX shares are trading higher by 12.6% at $13.80 on the last check Friday.

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