Fogo de Chao greenshoe exercised for $101.47 million IPO of its stock

Jefferies, JPMorgan, Credit Suisse, Deutsche Bank, Macquarie assisted

By Devika Patel

Knoxville, Tenn., June 24 – Fogo de Chao, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $13.24 million greenshoe in full, lifting total proceeds of the offering to $101.47 million. The deal priced for $88.24 million with the greenshoe on June 18.

The company sold 5,073,528 common shares at $20.00 per share. Of the shares, 661,764 were part of the fully exercised greenshoe.

Jefferies LLC and J.P. Morgan Securities LLC were the bookrunning 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’s common stock began trading on the Nasdaq Stock Market on June 19 under the symbol “FOGO.”

Issuer:	Fogo de Chao, Inc.
Issue:	Common stock
Amount:	$101,470,560, including $13,235,280 greenshoe of 661,764 shares
Shares:	5,073,528
Price:	$20.00
Warrants:	No
Bookrunners:	Jefferies LLC and J.P. Morgan Securities LLC
Co-managers:	Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Piper Jaffray & Co., Wells Fargo Securities, LLC and Macquarie Capital (USA) Inc.
Pricing date:	June 18
Settlement date:	June 24
Expected listing:	Nasdaq: FOGO

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