Sole Advisor
J. Alexander’s Holdings, Inc.
M&A Advisory
Spin-Off From
Transaction Details
- On September 28, 2015, Fidelity National Financial Ventures (NYSE: FNFV) spun-off J. Alexander’s Holdings, Inc. (“J. Alexander’s” or the “Company”) to its holders in a tax free spin-off
- FNFV is a tracking stock established by Fidelity National Financial, Inc. (“Fidelity”) to reflect the economic and financial performance of Fidelity’s portfolio company investments
- The spin-off transaction was in the form of a pro-rata dividend to holders of FNFV common stock. The dividend represented 100% of J. Alexander’s common stock owned by FNFV prior to the transaction, representing 87.44% of the Company’s issued and outstanding shares
- Under the distribution plan, FNFV shareholders received approximately 0.17272 shares of J. Alexander’s common stock for each share of FNFV common stock owned for a total of 13.1 million shares distributed
- J. Alexander’s is listed on the NYSE and began regular-way public trading on September 29, 2015 under the ticker JAX
- Stephens Inc. served as Sole Advisor to J. Alexander’s Holdings, Inc. in the transaction
About the company
Headquartered in Nashville, TN, J. Alexander’s Holdings, Inc. (NYSE: JAX) owns and operates three complementary restaurant concepts: J. Alexander’s, Redlands Grill, and Stoney River Steakhouse and Grill. J. Alexander’s, founded in 1991, offers guests a quality upscale dining experience focusing on made-from-scratch menu items and featuring prime rib of beef, hardwood-grilled steaks, seafood and chicken, pasta, salads, soups and assorted sandwiches, appetizers, and desserts. Redlands Grill, introduced in the first quarter of 2015, offers a high quality sushi program, a signature coffee-cured ribeye, and made-from-scratch flatbreads. Stoney River, founded in 1996, features an emphasis on a high quality steakhouse menu, but also includes house specialties ranging from pasta and chicken to shrimp and salmon. All three concepts offer signature cocktails and broad wine lists. As of June 28, 2015, the Company operated a total of 41 locations across 14 states.
Sources: Company filings and Stephens Inc. internal data.
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