Noodles & Company raises IPO price range to $15 to $17
Noodles & Company, which operates 343 fast-casual
restaurants serving global pasta dishes, raised the proposed deal
size for its upcoming IPO on Tuesday. The Broomfield, CO-based
company now plans to raise $86 million by offering 5.4 million
shares at a price range of $15 to $17. The company had previously
filed to offer 5.4 million shares at a range of $13 to $15. At
the midpoint of the revised range, Noodles & Company will
raise 14% greater proceeds than previously anticipated.
Noodles & Company, which was founded in 1995 and booked $312 million in sales for the 12 months ended April 2, 2013, plans to list on the NASDAQ under the symbol NDLS. Noodles & Company initially filed confidentially in March 2013. Morgan Stanley and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of June 24, 2013.