Kona Grill Prices Public Offering of Common Stock

KONA

SCOTTSDALE, AZ--(Marketwired - Jun 20, 2014) - Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, today announced the pricing of an underwritten public offering of 2,000,000 shares of its common stock at a public offering price of $18.50 per share. In addition, selling stockholders are offering to sell an additional 300,000 shares in the offering. The gross proceeds to the Company from this offering are $37.0 million, before deducting the underwriting discount and other estimated offering expenses. 

The offering is expected to close on or about June 25, 2014, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase at the public offering price up to an additional 345,000 shares of common stock in the offering. 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 are serving as joint book-running managers in the offering. Feltl & Company, Janney Montgomery Scott, Lake Street Capital Markets and Wunderlich Securities are serving as co-managers.

This offering is being 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 will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the final prospectus may also be obtained, when available, 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 26 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, Fort Worth, Houston, San Antonio, The Woodlands); Virginia (Richmond). For more information, visit www.konagrill.com.

Forward-Looking Statements
Except for the historical information contained in this news release, the matters addressed are forward-looking statements. Forward-looking statements, written, oral or otherwise made, represent the Company's expectation or belief concerning future events. Without limiting the foregoing, these statements are often identified by the words "may", "might", "believes", "thinks", "anticipates", "plans", "expects", "intends" or similar expressions. In addition, expressions of the Company's strategies, intentions or plans, are also forward-looking statements. Such statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond the Company's control. Investors are referred to the full discussion of risks and uncertainties as included in the Company's filings with the Securities and Exchange Commission.

Investor Relations Contact:
Liolios Group, Inc.
Cody Slach
Tel 1-949-574-3860
Email Contact


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