Red Robin completes sale of 108 restaurants for $89.4M; proceeds to cut debt

RED ROBIN GOURMET BURGERS INC

Sold 108 company-owned restaurants for ~$89.4M gross: Evergreen 30 units ($23.5M), Op Burgers 61 units ($55.9M), Kuber 17 units ($10M).
Remaining 8 Op Burgers restaurants to close by FY2026 end for ~$6.6M; total 116 units, ~$96M proceeds.
Proceeds primarily repay credit facility borrowings; supports debt refinancing under First Choice Plan.
Pro forma long-term debt falls to $67.4M from $163.4M; FY2025 net income swings to +$14.3M from -$23.3M loss.
Buyers operate restaurants as franchised Red Robin locations under long-term franchise agreements.

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