GEN Restaurant Group, owner of GEN Korean BBQ, has announced the pricing of its upsized initial public offering (IPO) at $12.00 per share. The company is offering 3,600,000 shares of its Class A common stock, with an option for the underwriters to purchase up to an additional 540,000 shares. The shares will begin trading on The Nasdaq Global Market under the symbol GENK and the offering is expected to close on June 30, 2023.
The company plans to use the proceeds from the offering, totaling $43.2 million, to purchase newly issued Class A Units of GEN Restaurant Companies, LLC. As the sole managing member of GEN LLC, the company intends to use the funds for general corporate purposes and new restaurant openings.
Roth Capital Partners is acting as the sole book-running manager and representative of the underwriters for the offering, with Craig-Hallum Capital Group and The Benchmark Company serving as co-managers.
A prospectus can be obtained from Roth Capital Partners once it becomes available. The offering of these securities is being made only by means of the prospectus.
GEN Korean BBQ is a fast-growing experiential Asian dining concept with over 30 locations in 7 states. The restaurant offers a unique dining experience where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The menu includes a variety of traditional Korean and Korean-American dishes, featuring high-quality meats, poultry, seafood, and mixed vegetables. With its modern décor and lively atmosphere, GEN Korean BBQ provides an engaging and interactive dining experience.
Please note that this article is based on a press release and does not constitute an offer to sell or solicitation of an offer to buy these securities. It is recommended to refer to the Company’s registration statement for further information on the risks and uncertainties associated with this offering.
