Kura Sushi USA Announces Launch of Public Offering of Common Stock
Kura Sushi USA, a technology-enabled Japanese restaurant concept, has announced the launch of an underwritten public offering of its Class A common stock. The company plans to grant underwriters a 30-day option to purchase additional shares to cover over-allotments. William Blair & Company, Barclays Capital, and TD Securities are acting as joint book-running managers. The net proceeds will be used for general corporate purposes, including capital expenditures, working capital, and other business purposes. The offering is being made through an effective shelf registration statement filed with the SEC.
Kura Sushi USA, un concetto di ristorante giapponese supportato dalla tecnologia, ha annunciato il lancio di un'offerta pubblica sottoscritta delle sue azioni ordinarie di Classe A. L'azienda prevede di concedere agli underwriter un'opzione di 30 giorni per acquistare ulteriori azioni per coprire sovrallocazioni. William Blair & Company, Barclays Capital e TD Securities stanno agendo come gestori principali congiunti. I proventi netti saranno utilizzati per scopi aziendali generali, comprese spese per investimenti, capitale di esercizio e altre finalità aziendali. L'offerta è effettuata tramite una dichiarazione di registrazione sul mercato efficace depositata presso la SEC.
Kura Sushi USA, un concepto de restaurante japonés habilitado por la tecnología, ha anunciado el lanzamiento de una oferta pública suscrita de sus acciones ordinarias Clase A. La empresa planea otorgar a los suscriptores una opción de 30 días para adquirir acciones adicionales para cubrir sobreasignaciones. William Blair & Company, Barclays Capital y TD Securities están actuando como gerentes conjuntos de libro. Los ingresos netos se utilizarán para fines corporativos generales, incluyendo gastos de capital, capital de trabajo y otros propósitos comerciales. La oferta se está realizando a través de una declaración de registro en efectivo presentada ante la SEC.
세 기술 기반 일본 레스토랑 개념인 Kura Sushi USA가 클래스 A 보통주에 대한 공모 청약을 발표했습니다. 회사는 인수인에게 초과 배정을 포함하여 추가 주식을 구매할 수 있는 30일 옵션을 부여할 계획입니다. William Blair & Company, Barclays Capital 및 TD Securities가 공동 북 운영 관리자 역할을 하고 있습니다. 순수익은 일반 기업 용도로 사용되며, 자본 지출, 운전자본 및 기타 사업 용도를 포함합니다. 이 제안은 SEC에 제출된 유효 선반 등록 성명을 통해 이루어집니다.
Kura Sushi USA, un concept de restaurant japonais axé sur la technologie, a annoncé le lancement d'une offre publique souscrite de ses actions ordinaires de classe A. L'entreprise prévoit d'accorder aux souscripteurs une option de 30 jours pour acheter des actions supplémentaires afin de couvrir les surallocations. William Blair & Company, Barclays Capital et TD Securities agissent en tant que gestionnaires principaux conjoints. Le produit net sera utilisé à des fins d'entreprise générales, y compris les dépenses en capital, le fonds de roulement et d'autres objectifs commerciaux. L'offre est réalisée par l'intermédiaire d'une déclaration d'enregistrement de marge efficace déposée auprès de la SEC.
Kura Sushi USA, ein technologiegestütztes japanisches Restaurantkonzept, hat die Einleitung eines unterzeichneten öffentlichen Angebots für seine Class A Stammaktien bekannt gegeben. Das Unternehmen plant, den Underwritern eine 30-tägige Option zu gewähren, um zusätzliche Aktien zum Deckung von Überallokationen zu erwerben. William Blair & Company, Barclays Capital und TD Securities fungieren als gemeinsame Buchmacher. Die Nettomittel werden für allgemeine Unternehmenszwecke verwendet, einschließlich Investitionsausgaben, Betriebskapital und andere Geschäftszwecke. Das Angebot erfolgt über eine wirksame Shelf-Registrierungserklärung, die bei der SEC eingereicht wurde.
- Additional capital raising for corporate expansion and working capital
- Support from major financial institutions as underwriters
- Potential dilution of existing shareholders' equity
- Uncertainty regarding the offering size and terms
Insights
The public offering announcement signals a significant capital raising initiative for Kura Sushi USA. While the exact size and terms remain undisclosed, this move typically indicates a company's need for substantial capital expansion. The timing aligns with the broader restaurant industry's post-pandemic recovery phase and expansion opportunities.
The involvement of major underwriters like William Blair, Barclays and TD Securities adds credibility to the offering. The company's intention to use proceeds for capital expenditures suggests aggressive growth plans, likely involving new restaurant openings and technology investments. However, existing shareholders should be aware of potential
The shelf registration format provides flexibility in timing and size of the offering, allowing the company to capitalize on favorable market conditions. The over-allotment option could increase the total raise by up to
IRVINE, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced that it has commenced an underwritten public offering of shares of its Class A common stock. All shares of Class A common stock are being offered by the Company. In connection with the offering, Kura Sushi intends to grant the underwriters a 30-day option to purchase additional shares of its Class A common stock to cover over-allotments, if any. The proposed offering is subject to market and other conditions, and there can be no assurances as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
Kura Sushi intends to use the net proceeds from the proposed 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.
The offering is being 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 preliminary prospectus supplement and the accompanying base prospectus related to the offering will be filed with the SEC and 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
FAQ
What is the purpose of Kura Sushi's (KRUS) 2024 public offering?
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