NASHVILLE, Tenn.--(BUSINESS WIRE)--J. Alexander’s Holdings, Inc. (NYSE: JAX) (the Company), owner and
operator of J. Alexander’s, Redlands Grill, and Stoney River Steakhouse
and Grill, today announced that it has received a letter from Ancora
Advisors, LLC (Ancora), holder of approximately 1,261,810 shares of the
Company’s common stock, or approximately 8.6% of the outstanding shares.
The letter contains a purported nonbinding proposal to purchase the
outstanding shares of the Company’s common stock for $11.75 in cash for
each share, subject to a number of conditions set forth in the letter.
The letter is publicly available in Amendment No. 3 to Ancora’s Schedule
13D filed April 8, 2019, with the Securities and Exchange Commission,
file number 005-89109.
The Company’s Board of Directors, in consultation with its advisors,
will carefully review, evaluate and respond to Ancora’s letter.
About J. Alexander’s Holdings, Inc.
J. Alexander’s Holdings, Inc. is a collection of restaurants that focus
on providing high quality food, outstanding professional service and an
attractive ambiance. The Company presently operates 46 restaurants in 16
states. The Company has its headquarters in Nashville, TN.
Forward‐Looking Statements
This press release issued by J. Alexander’s Holdings, Inc. contains
forward‐looking statements, which include all statements that do not
relate solely to historical or current facts, such as statements
regarding our expectations, intentions or strategies regarding the
future. Because such statements are based on expectations as to future
events and are not statements of fact, actual results may differ
materially from those projected and are subject to a number of known and
unknown risks and uncertainties, including those risks discussed in the
Company’s Annual Report on Form 10-K for the year ended December 30,
2018, and other filings with the Securities and Exchange Commission. The
Company undertakes no obligation to update any forward‐looking
statements, whether as a result of new information, future events or
otherwise.
