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Alexander Capital, L.P. Congratulates Muscle Maker, Inc. on its $5.6 Million Follow-On Offering

New York, NY, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Alexander Capital L.P. ("Alexander Capital" or the "Firm"), a full-service investment bank and brokerage firm, congratulates Muscle Maker, Inc. (NASDAQ: GRIL) on the closing of its follow-on financing announced on September 11, 2020.

Alexander Capital and Kingswood Capital Markets acted as joint bookrunners for the offering which was priced on September 10, 2020. In conjunction with the offering, Muscle Maker, Inc. issued 3,294,118 shares of the company’s common stock at $1.70 per share. In addition, Muscle Maker, Inc. has granted the underwriters a 45-day option to purchase an additional 494,118 shares as part of the offering’s over-allotment. In total, Alexander Capital and Kingswood Capital Market raised a total of $5.6 million in Muscle Maker, Inc.’s follow-on offering.

Muscle Maker, Inc. plans to use the capital to fund the execution of their non-traditional location growth initiatives on military bases, universities and opening an estimated 30 ghost kitchens. On September 16, the company announced a letter of intent to open two additional ghost kitchens in the boroughs of Manhattan and Brooklyn. Upon opening, the company will be operating nine ghost kitchen facilities, covering three major cities within the U.S.

Founded in 1995 in Colonia, New Jersey, Muscle Maker, Inc. features high quality, great tasting food, freshly prepared with proprietary recipes. The menu, created with the guest’s health in mind, is lean and protein based. It features all-natural chicken, grass fed steak, lean turkey, whole wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements. For more information on Muscle Maker, Inc., visit www.musclemakergrill.com.
About Alexander Capital, L.P.

Founded in 1995, Alexander Capital, L.P. has become a full-service, boutique investment bank and brokerage firm backed by a team of talented and experienced industry professionals. The core of the firm’s principals and executives reflects a broad background in investment banking, sales and trading. Alexander Capital specializes in capital raising, advisory and valuation services for private and public companies of varying sizes, market capitalizations and in multiple sectors. Alexander Capital also services high net worth investors in its Wealth Management division and provides access to products in other financial institutions through its "Open Architecture" investment approach. Alexander Capital, L.P. is a member of FINRA & SIPC and its clearing agent is RBC Correspondent Services.

CONTACT: Jonathan Gazdak Managing Director, Investment Banking jgazdak@alexandercapitallp.com Phone: 1-212-687-5650 Fax: 1-212-687-5649 Chris Carlin Head of Global Equity Capital Markets ccarlin@alexandercapitallp.com Phone: 1-212-687-5650 Fax: 1-212-687-5649


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