SOURCE: Kona Grill, Inc.

Kona Grill, Inc.

June 25, 2014 13:35 ET

Kona Grill Announces Completion of Public Offering and Exercise in Full of Option to Purchase Additional Shares of Common Stock

SCOTTSDALE, AZ--(Marketwired - Jun 25, 2014) -  Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, today announced the completion of an underwritten public offering of 2,645,000 shares of its common stock at a public offering price of $18.50 per share. An aggregate of 2,345,000 of these shares were sold by the Company, which included 345,000 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, and 300,000 shares were sold by certain selling stockholders. The offering closed on June 25, 2014. The gross proceeds to the Company from this offering were $43.4 million, before deducting the underwriting discount and other estimated offering expenses.

The Company intends to use the net proceeds from its sale of shares in the offering for new unit expansion, remodel and maintenance capital expenditures and for working capital and other general corporate purposes.

KeyBanc Capital Markets and Raymond James served as joint book-running managers in the offering. Feltl & Company, Janney Montgomery Scott, Lake Street Capital Markets and Wunderlich Securities served as co-managers.

This offering was made pursuant to a registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which was declared effective on June 19, 2014. A final prospectus related to the offering was filed with the SEC and is available on the SEC's website located at www.sec.gov. Copies of the final prospectus may also be obtained by contacting KeyBanc Capital Markets, Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783; or Raymond James, Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by email to prospectus@raymondjames.com or by telephone at (800) 248-8863.

This press release shall not constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kona Grill
Kona Grill (NASDAQ: KONA) features American favorites with an international influence and award-winning sushi in a casually elegant atmosphere. Kona Grill owns and operates 27 restaurants, guided by a passion for quality food and personal service. Restaurants are currently located in 17 states: Arizona (Chandler, Gilbert, Phoenix, Scottsdale); Colorado (Denver); Connecticut (Stamford); Florida (Tampa); Idaho (Boise); Illinois (Lincolnshire, Oak Brook); Indiana (Carmel); Louisiana (Baton Rouge); Maryland (Baltimore); Michigan (Troy); Minnesota (Eden Prairie); Missouri (Kansas City); Nebraska (Omaha); New Jersey (Woodbridge); Nevada (Las Vegas); Texas (Austin, Dallas, El Paso, Fort Worth, Houston, San Antonio, The Woodlands); Virginia (Richmond). For more information, visit www.konagrill.com.

Contact Information

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