Offering prices at $20 per share, above $16 to $18 price talk
By Angela McDaniels
Tacoma, Wash., June 18 – Fogo de Chao, Inc. priced its initial public offering of 4,411,764 shares of common stock at a price of $20.00 per share for a total of $88.24 million. There is a $13.24 million greenshoe.
Price talk for the IPO was $16.00 to $18.00 per share.
Jefferies LLC and J.P. Morgan Securities LLC are the bookrunning managers. Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Piper Jaffray & Co., Wells Fargo Securities, LLC and Macquarie Capital (USA) Inc. are co-managers.
Proceeds will be used to repay debt under the company’s senior credit facilities and for general corporate purposes, including restaurant development and working capital purposes.
The Brazilian steakhouse chain is based in Dallas. The company expected its common stock to begin trading on the Nasdaq Stock Market on June 19 under the symbol “FOGO.”
| Issuer: | Fogo de Chao, Inc.
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| Issue: | Common stock
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| Amount: | $88,235,280
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| Greenshoe: | $13,235,280
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| Shares: | 4,411,764
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| Price: | $20.00
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| Warrants: | No
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| Agents: | Jefferies LLC and J.P. Morgan Securities LLC (bookrunning managers); Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Piper Jaffray & Co., Wells Fargo Securities, LLC and Macquarie Capital (USA) Inc. (co-managers)
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| Pricing date: | June 18
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| Settlement date: | June 24
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| Expected listing: | Nasdaq: FOGO
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