Ignite Restaurant Group Prices Its Initial Public Offering

Ignite Restaurant Group (NASDAQ: IRG) today announced the pricing of its initial public offering of 5,769,231 shares of common stock at a price to the public of $14.00 per share. Of the shares in the offering, 5,572,703 shares are being offered by Ignite, and 196,528 shares are being offered by selling shareholders. Ignite will not receive any of the proceeds from the sale of shares sold by the selling shareholders. The shares are expected to begin trading on May 11, 2012 on the NASDAQ Global Market under the ticker symbol “IRG.” The closing of the offering is expected to occur on May 16, 2012, subject to the satisfaction of customary closing conditions. In addition, Ignite has granted the underwriters a 30-day option to purchase up to an additional 865,384 shares to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC, along with Robert W. Baird & Co. Incorporated and Piper Jaffray & Co. are acting as joint book-running managers for the offering. KeyBanc Capital Markets Inc., Lazard Capital Markets LLC and Raymond James & Associates, Inc. are acting as co-managers for the offering.

The offer is being made only by means of a prospectus. Copies of the prospectus may be obtained from: Credit Suisse, Attention: Prospectus Department, Eleven Madison Avenue, Level 1B, New York, NY 10010, by email at newyork.prospectus@credit-suisse.com or by telephone at (800) 221-1037; Robert W. Baird & Co. Inc., Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, by email at syndicate@rwbaird.com or by telephone at (800) 792-2413; or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, by email at prospectus@pjc.com or by telephone at (800) 747-3924.

A registration statement relating to shares of the common stock of Ignite Restaurant Group was declared effective by the Securities and Exchange Commission on May 10, 2012. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Ignite Restaurant Group, Inc. owns and operates two restaurant brands, Joe’s Crab Shack and Brick House Tavern + Tap. Each brand offers a variety of high-quality, chef-inspired food and beverages in a distinctive, casual, high-energy atmosphere. Joe’s Crab Shack and Brick House Tavern + Tap operate in a diverse set of markets across the United States. Joe’s Crab Shack operates 124 restaurants in 31 states and Brick House Tavern + Tap operates 16 restaurants in 9 states as of May 10, 2012.