The ONE Group Hospitality, Inc. to Host Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast at 4:30 PM ET on March 14, 2024

Rhea-AI Summary

Alvotech (ALVO) announces the sale of 10,127,132 ordinary shares to investors for approximately USD 166 million. The transaction, valued at USD 16.41 per share, aims to strengthen the company's production capacity and support expected biosimilars launches.

DENVER--(BUSINESS WIRE)-- The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today announced that Emanuel “Manny” Hilario, President and Chief Executive Officer, and Tyler Loy, Chief Financial Officer, will host a conference call and webcast to discuss fourth quarter and full year 2023 financial results on Thursday, March 14, 2024 at 4:30 PM ET. A press release containing the fourth quarter and full year 2023 financial results will be issued after market close that same afternoon.

The conference call can be accessed live over the phone by dialing 412-542-4186. A replay will be available after the call and can be accessed by dialing 412-317-6671; the passcode is 10186635. The replay will be available until Thursday, March 28, 2024.

About The ONE Group

The ONE Group Hospitality, Inc. is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:

• STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere.
• Kona Grill, a polished casual, bar-centric grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
• ONE Hospitality, The ONE Group’s food and beverage hospitality services business, develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe.

Additional information about The ONE Group can be found at www.togrp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240311321239/en/

Investors:

ICR

Michelle Michalski or Raphael Gross

(646) 277-1224

Michelle.Michalski@icrinc.com

Media:

ICR

Seth Grugle

(646) 277-1272

seth.grugle@icrinc.com

Source: The ONE Group Hospitality, Inc.

FAQ

What is the ticker symbol for Alvotech?

The ticker symbol for Alvotech is ALVO.

How many ordinary shares did Alvotech sell to investors?

Alvotech sold 10,127,132 ordinary shares to investors.

What is the approximate value of the transaction?

The approximate value of the transaction is USD 166 million.

What is the purchase price per share in the transaction?

The purchase price per share in the transaction is USD 16.41.

What will Alvotech use the net proceeds from the transaction for?

Alvotech intends to use the net proceeds for general corporate purposes, working capital, strengthening production capacity, and supporting expected biosimilars launches.