Scottsdale-based Kona Grill Inc. (NASDAQ KONA), which has been going through difficult times, is partnering with a Chinese hotelier to raise $5.6 million to help pay down the restaurant chain’s debt.
Kona announced Wednesday that it is issuing 3.1 million shares of stock to the company’s president and CEO Berke Bakay and to Nanyan “Alex” Zheng, chairman of the Guangzhou, Guangdong-based Plateno Group, which owns more than 4,400 hotels.
