May 19, 2012 · 0 Comments
HOUSTON–()–Ignite Restaurant Group today announced the completion of its initial public offering at $14 per share, less the underwriting discount. The Company sold a total of 6,438,087 shares of common stock, which includes 865,384 shares sold pursuant to the full exercise of the underwriters’ over-allotment option, bringing total net proceeds to the Company from the offering to approximately $83,823,893 million. In addition, a selling stockholder sold an additional 196,528 shares. The issuance and sale of the shares closed on May 16, 2012.
Ignite Restaurant Group, Inc. owns and operates two restaurant brands, Joe’s Crab Shack and Brick House Tavern + Tap. Each brand offers a variety of high-quality, chef-inspired food and beverages in a distinctive, casual, high-energy atmosphere. Joe’s Crab Shack and Brick House Tavern + Tap operate in a diverse set of markets across the United States. Joe’s Crab Shack operates 125 restaurants in 33 states and Brick House Tavern + Tap operates 16 restaurants in 9 states as of May, 17, 2012.