Birmingham, Alabama based Zoe’s Kitchen, Inc., a fast casual kitchen, announced pricing its initial public offering of shares of common stock. The IPO was valued at USD15 per share piece valuing Zoe's Kitchen to USD276 million. The company has listed 5,833,333 of common shares on the New York Stock Exchange under the trading symbol ZOES. Zoe’s Kitchen shares would begin trading on Friday, April 11 and was expected to end on April 16.
The underwriters for the IPO were granted a 30 day option to acquire additional shares of 874,999 to cover possible over allotments. The company has tapped Jefferies LLC, Robert W. Baird & Co. and Piper Jaffray as joint book running managers for the public debut. Meanwhile, Zoe’s Kitchen appointed William Blair & Company LLC, Stifel and Stephens Inc. as co-managers for the deal.
Zoe’s Kitchen was established in 1995 and serves Mediterranean inspired dishes on their menu. The company would use the funds received from the IPO to repay debt, according to the filing.
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