Kura Sushi USA Announces Closing of $68.0 Million Public Offering of Common Stock
Kura Sushi USA has completed its public offering of 800,328 shares of Class A common stock at $85.00 per share, including the full exercise of underwriters' option for an additional 104,390 shares. The technology-enabled Japanese restaurant concept raised approximately $64.6 million in net proceeds after underwriters' discount. The company plans to use the funds for general corporate purposes, including capital expenditures, working capital, and other business purposes. William Blair & Company, Barclays Capital, and TD Securities served as joint book-running managers, while Craig-Hallum Capital Group, Roth Capital Partners, and The Benchmark Company acted as co-managers.
Kura Sushi USA ha completato la sua offerta pubblica di 800.328 azioni di azioni ordinarie di Classe A a 85,00$ per azione, incluso l'esercizio completo dell'opzione dei sottoscrittori per ulteriori 104.390 azioni. Il ristorante giapponese, abilitato dalla tecnologia, ha raccolto circa 64,6 milioni di dollari in proventi netti dopo lo sconto per i sottoscrittori. L'azienda prevede di utilizzare i fondi per scopi aziendali generali, comprese le spese in conto capitale, il capitale circolante e altre finalità commerciali. William Blair & Company, Barclays Capital e TD Securities hanno svolto il ruolo di joint book-running managers, mentre Craig-Hallum Capital Group, Roth Capital Partners e The Benchmark Company hanno agito come co-manager.
Kura Sushi USA ha completado su oferta pública de 800,328 acciones de acciones comunes de Clase A a $85.00 por acción, incluyendo el ejercicio completo de la opción de los suscriptores para 104,390 acciones adicionales. El concepto de restaurante japonés habilitado por tecnología recaudó aproximadamente $64.6 millones en ingresos netos después del descuento por los suscriptores. La compañía planea utilizar los fondos para propósitos corporativos generales, incluyendo gastos de capital, capital de trabajo y otros fines comerciales. William Blair & Company, Barclays Capital y TD Securities actuaron como gerentes conjuntos de libro, mientras que Craig-Hallum Capital Group, Roth Capital Partners y The Benchmark Company actuaron como co-gerentes.
쿠라 스시 USA는 주당 $85.00에 800,328 주의 A클래스 보통주에 대한 공개 제공을 완료했으며, 추가 104,390 주에 대한 인수인의 옵션을 전액 행사했습니다. 기술이 지원하는 일본 레스토랑 개념은 인수인의 할인 후 약 $64.6 백만의 순수익을 올렸습니다. 회사는 자본 지출, 운전 자본 및 기타 사업 목적을 포함한 일반 기업 목적을 위해 자금을 사용할 계획입니다. 윌리엄 블레어 & 컴퍼니, 바클레이즈 캐피탈, TD 증권이 공동 북런닝 매니저로 활동했으며, 크레이그-할럼 캐피탈 그룹, 로스 캐피탈 파트너스, 벤치마크 컴퍼니가 공동 매니저로 활동했습니다.
Kura Sushi USA a complété son offre publique de 800.328 actions ordinaires de Classe A au prix de 85,00 $ par action, y compris l'exercice complet de l'option des souscripteurs pour 104.390 actions supplémentaires. Le concept de restaurant japonais axé sur la technologie a levé environ 64,6 millions de dollars de revenus nets après la réduction des souscripteurs. La société prévoit d'utiliser les fonds à des fins générales d'entreprise, y compris les dépenses d'investissement, le fonds de roulement et d'autres objectifs commerciaux. William Blair & Company, Barclays Capital et TD Securities ont agi en tant que co-managers principaux, tandis que Craig-Hallum Capital Group, Roth Capital Partners et The Benchmark Company ont agi en tant que co-managers.
Kura Sushi USA hat ihr öffentliches Angebot von 800.328 Aktien der Klasse A zum Preis von $85,00 pro Aktie abgeschlossen, einschließlich der vollständigen Ausübung der Optionsrechte der Underwriter für weitere 104.390 Aktien. Das technologiegestützte japanische Restaurantkonzept hat nach Abzug des Underwriters-Rabatts etwa $64,6 Millionen an Nettoeinnahmen erzielt. Das Unternehmen plant, die Mittel für allgemeine Unternehmenszwecke zu verwenden, einschließlich Investitionsausgaben, Betriebskapital und anderer geschäftlicher Zwecke. William Blair & Company, Barclays Capital und TD Securities fungierten als gemeinsame Buchführer, während Craig-Hallum Capital Group, Roth Capital Partners und The Benchmark Company als Co-Manager tätig waren.
- Successfully raised $64.6 million in net proceeds
- Full exercise of underwriters' option indicates strong demand
- Funds allocated for capital expenditures and business expansion
- Potential dilution of existing shareholders' value
- Share offering price of $85 represents new equity issuance
Insights
This public offering demonstrates strong market confidence in Kura Sushi's growth potential, successfully raising
The offering price represents a premium to recent trading levels, indicating positive market sentiment. The funds earmarked for capital expenditures suggest aggressive growth plans, which aligns with the company's tech-enabled restaurant concept expansion strategy. With major financial institutions like William Blair, Barclays and TD Securities backing the offering, this adds credibility to the company's growth narrative.
IRVINE, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced the closing of its underwritten public offering of 800,328 shares of its Class A common stock at a public offering price of
Kura Sushi intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures, working capital, and other business purposes.
William Blair & Company, L.L.C., Barclays Capital Inc. and TD Securities (USA) LLC are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC, Roth Capital Partners and The Benchmark Company, LLC are acting as co-managers for the offering.
The offering was made pursuant to an effective shelf registration statement including a base prospectus that has been filed with the Securities and Exchange Commission (the “SEC”) and declared effective and is available on the SEC website. A prospectus supplement and the accompanying base prospectus related to the offering have been filed with the SEC and are available on the SEC website. Copies of these documents may be obtained from William Blair & Company, L.L.C., Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at 1-800-621-0687 or by email at: prospectus@williamblair.com; Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-888-603-5847 or by email at: barclaysprospectus@broadridge.com; or TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at 1-855-495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kura Sushi USA, Inc.
Kura Sushi USA, Inc. is a technology-enabled Japanese restaurant concept with 70 locations across 20 states and Washington DC. The Company offers guests a distinctive dining experience built on authentic Japanese cuisine and an engaging revolving sushi service model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a Japan-based revolving sushi chain with over 550 restaurants and 40 years of brand history.
Forward-Looking Statements
Except for historical information contained herein, the statements in this press release or otherwise made by the Company’s management in connection with the subject matter of this press release are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and involve risks and uncertainties and are subject to change based on various important factors. This press release includes forward-looking statements that are based on management’s current estimates or expectations of future events or future results. These statements are not historical in nature and can generally be identified by such words as “target,” “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “continue,” “predict,” “potential,” “plan,” “anticipate” or the negative of these terms, and similar expressions. Management’s expectations and assumptions regarding future results are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements included in this press release. These risks and uncertainties include but are not limited to: the Company’s discretion as to the use of proceeds from the offering; the Company’s ability to successfully maintain increases in its comparable restaurant sales and average unit volumes; the Company’s ability to successfully execute its growth strategy and open new restaurants that are profitable; the Company’s ability to expand in existing and new markets; the Company’s projected growth in the number of its restaurants; macroeconomic conditions and other economic factors, including rising interest rates, the possibility of a recession and instability in financial markets; the Company’s ability to compete with many other restaurants; the Company’s reliance on vendors, suppliers and distributors, including its majority stockholder Kura Sushi, Inc.; changes in food and supply costs, including the impact of inflation and tariffs; concerns regarding food safety and foodborne illness; changes in consumer preferences and the level of acceptance of the Company’s restaurant concept in new markets; minimum wage increases and mandated employee benefits that could cause a significant increase in labor costs, as well as the impact of labor availability; the failure of the Company’s automated equipment or information technology systems or the breach of its network security; the loss of key members of the Company’s management team; the impact of governmental laws and regulations; volatility in the price of the Company’s common stock; and other risks and uncertainties as described in the Company’s filings with the SEC. These and other factors that could cause results to differ materially from those described in the forward-looking statements contained in this press release can be found in the Company’s other filings with the SEC. Undue reliance should not be placed on forward-looking statements, which are only current as of the date they are made. The Company assumes no obligation to update or revise its forward-looking statements, except as may be required by applicable law.
Investor Relations Contact:
Jeff Priester
(657) 333-4010
investor@kurausa.com
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