Kona Grill’s new owner sees stock surge after closing of acquisition


The One Group Hospitality Inc. completed its purchase of Scottsdale-based Kona Grill Inc. Monday, which pushed the New York company’s stock price higher.

The One Group (Nasdaq: STKS) purchased Kona, which filed for Chapter 11 bankruptcy protection in April, for $25 million in cash and assumed approximately $11 million in liabilities. The deal was approved by a bankruptcy judge on Sept. 24.

With the completion of the acquisition, The One Group raised its financial targets for 2019, increasing…

Previous Mortenson hires Spray as new business development manager
Next S.F. supervisors propose fee on takeout containers