Business
Muscle Maker Inc. (Nasdaq: GRIL) Announces Name Change and Rebranding to Sadot Group Inc. (Nasdaq: SDOT)
FORT WORTH, TX / ACCESSWIRE / July 26, 2023 / Muscle Maker Inc. (NASDAQ:GRIL) ("MMI" or the "Company"), today announced its corporate rebranding from MMI to
About this update from Sadot Group Inc.
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / July 26, 2023 / Muscle Maker Inc. (NASDAQ:GRIL) (\"MMI\" or the \"Company\"), today announced its corporate rebranding from MMI to Sadot Group Inc. effective July 27, 2023. The Company's stock ticker symbol will change from \"GRIL\" to \"SDOT\" on the Nasdaq stock exchange, and trading under the new stock ticker symbol will commence on July 27. Holders of common stock are not required to exchange current outstanding stock certificates for new stock certificates.The parent company name change was initiated by the Company's strategic pivot into the global agri-food supply chain industry. Since the pivot in November 2022, the company has delivered consistent results. As of June 30, 2023, Sadot LLC, a wholly-owned subsidiary, crossed the $500 million total revenue milestone since its inception. The Company has now exceeded $45 million in monthly revenue for eight consecutive months. In addition to high revenues month after month, the Company recently announced the expansion into new trade routes throughout North, Central and South America along with the purchase and initiation of farming operations in Zambia, keeping the Company on its trajectory to reach its goals of becoming a significant global presence in the sector.\"We are pleased to announce our new identity as Sadot Group Inc.,\" shared Michael Roper, CEO of the Company. \"Over the last eight months we have experienced transformational operational and financial growth, and the name change to Sadot Group Inc. aligns with our evolved identity, symbolizing the clear direction of our corporate strategic vision. The transformation is a testament to our unwavering commitment to growth and innovation in the agri-food supply chain. Our focus on growth, innovation, and results remains steadfast. We are determined to build on our achievements and continue making strides in the agri-food industry. We thank our shareholders, partners, and employees for their continued support and look forward to capitalizing on future opportunities.\"The Sadot Group operates within three key verticals of the global food supply chain including 1) global agri-commodity origination and trading operations, 2) farm operations in Southern Africa producing grains and tree crops, and 3) food service operations with more than 50 restaurants across the U.S.The preliminary, unaudited ...