---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-006331"
form_type: "8-K"
ticker: "STKS"
cik: "0001399520"
company_name: "ONE Group Hospitality, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:33:42.147328+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# STKS completes $365M acquisition of Benihana owner, appoints new directors

## Summary
- Acquired Safflower Holdings Corp. (owner of Benihana and RA Sushi) for $365M cash, funded via $350M term loan and $160M preferred stock/warrants.
- Entered $350M senior secured term loan with Deutsche Bank, HPS, HG Vora; plus $40M revolver.
- Issued $160M Series A Preferred and warrants to Hill Path and HPS; warrants at $0.01 and $10 exercise prices.
- Appointed Scott Ross and James Chambers (Hill Path Capital) to the Board of Directors.
- Q1 2024 earnings call scheduled for May 7, 2024 at 4:30 PM ET.

## SEC filing metadata
- accession: 0001558370-24-006331
- form_type: 8-K
- ticker: STKS
- cik: 0001399520
- company_name: ONE Group Hospitality, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1399520/000155837024006331/0001558370-24-006331-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1399520/000155837024006331/stks-20240501x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-006331
- JSON: https://secwatch.observer/filing/0001558370-24-006331.json
- Plain text: https://secwatch.observer/filing/0001558370-24-006331.txt

## Key facts
- Executive change
  James Chambers was appointed as Director at ONE Group Hospitality, Inc..
  - Action: appointed
  - Role: Director
  source text: James Chambers and Scott Ross were appointed as Class I and Class III directors, respectively, to the Company’s Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1399520/000155837024006331/0001558370-24-006331-index.htm
- Executive change
  Scott Ross was appointed as Director at ONE Group Hospitality, Inc..
  - Action: appointed
  - Role: Director
  source text: James Chambers and Scott Ross were appointed as Class I and Class III directors, respectively, to the Company’s Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1399520/000155837024006331/0001558370-24-006331-index.htm
- M&A Transactions
  ONE Group Hospitality, Inc. completed an acquisition involving Safflower Holdings LLC for $365.0 million in cash (closed 2024-05-01).
  - Action: acquisition
  - Counterparty: Safflower Holdings LLC
  - Consideration: $365.0 million in cash
  - Closing: 2024-05-01
  source text: On the Closing Date, the Company acquired 100% of the issued and outstanding equity interests of Safflower Holdings Corp. from Safflower Holdings LLC, for $365.0 million in cash, subject to customary adjustments for indebtedness, cash, net working capital and seller transaction expenses (the “Acquisition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1399520/000155837024006331/0001558370-24-006331-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.