Current Report Filing (8-k)
April 24 2020 - 12:51PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 24, 2020 (April 24, 2020)
J. Alexanders Holdings, Inc.
(Exact name of registrant as specified in its charter)
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Tennessee
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001-37473
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47-1608715
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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3401 West End Avenue, Suite 260, P.O. Box 24300, Nashville, TN 37202
(Address of Principal Executive Offices) (Zip Code)
(615) 269-1900
(Registrants telephone number, including area code)
Not applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol
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Name of exchange on which registered
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Common Stock, par value $0.001 per share
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JAX
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☒
Item 8.01. Other Events.
On April 24, 2020, as a result of new guidance issued by the United States Treasury Department and the U.S. Small Business Administration on
April 23, 2020, J. Alexanders Holdings, Inc. (the Company), announced its intention to return all funds received by its subsidiaries, J. Alexanders, LLC and Stoney River Management Company, LLC, under the Paycheck
Protection Program (the PPP) established by Congress under the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), enacted on March 27, 2020. The Company believed its subsidiary operating companies were
eligible for the loans in accordance with the special eligibility provisions for larger companies under provisions included in the CARES Act and the applicable implementing guidance issued by the U.S. Small Business Administration under the PPP that
was available at the time loan applications were submitted. The loans had been obtained to support the goal in the legislation of providing financial assistance to restaurant-level employees, including approximately 3,400 furloughed hourly employees
that are not presently assisting with the Companys carry-out programs, and to restore the Companys workforce as quickly as possible once dine-in operations
could be safely resumed in accordance with applicable state and local government guidelines.
In connection with the return of the PPP loan funds and the
continued uncertainty regarding definitive timelines for restoration of dine-in operations at each of the Companys locations, the Company intends to take steps to secure additional financing
opportunities to support the Companys liquidity.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements, which include all statements that do not relate
solely to historical or current facts, such as statements regarding our expectations, intentions or strategies regarding the future. These forward-looking statements are based on managements beliefs, as well as assumptions made by, and
information currently available to, management. Because such statements are based on expectations and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and
uncertainties, including financial market conditions; the health and financial effects of the COVID-19 outbreak; the impact of state and local restaurant closure orders; the ability of the Company to restore
its workforce and guest base once such orders are lifted in the future; and other risks and uncertainties described under the headings Forward-Looking Statements, Risk Factors and other sections of the
Companys Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2020, as amended on April 17, 2020, and subsequent filings. The Company undertakes no
obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
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J. Alexanders Holdings, Inc.
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Date: April 24, 2020
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By:
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/s/ Jessica L. Hagler
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Jessica L. Hagler
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Vice President, Chief Financial Officer, Treasurer and Secretary
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