Business
Kura Sushi USA Announces Closing of $56.9 Million Public Offering of Common Stock
IRVINE, Calif., July 23, 2021 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”), (NASDAQ: KRUS), a fast-growing technology-enabled
About this update from Kura Sushi Usa, Inc.
[{"type":"text","content":"IRVINE, Calif., July 23, 2021 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”), (NASDAQ: KRUS), a fast-growing technology-enabled Japanese restaurant concept, today announced the closing of its underwritten public offering of 1,265,000 shares of its Class A common stock at a public offering price of $45.00 per share, including the exercise in full by the underwriters of their option to purchase an additional 165,000 shares of Class A common stock. The Company received proceeds from the offering, net of the underwriters’ discount, of approximately $54.1 million. Kura Sushi intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures, the repayment of the indebtedness outstanding under its existing revolving credit agreement with its parent company, working capital, and other business purposes. William Blair & Company, L.L.C. acted as lead book-running manager for the offering. Stephens Inc. acted as book-running manager for the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners acted as co-managers for this 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 email at: [email protected] and Stephens Inc., Attention: Prospectus Department, 111 Center Street, Little Rock, AR 72201, by email at: [email protected]. 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 fast-growing technology-enabled Japanese restaurant concept with 32 locations in nine states and Washington DC. The ...