Kura Sushi USA raises over $54.1 million

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Hunt for money successful.

Revolving sushi bar restaurant chain Kura Sushi USA 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 USD 45 per share.

This included the exercise in full by the underwriters of their option to purchase an additional 165,000 shares of class A common stock.

The Nasdaq Stock Market listed company has 32 locations in ten USA states. Kura Sushi USA received proceeds from the offering of approximately USD 54.1 million.

Kura Sushi USA was established in 2008 as a subsidiary of Kura Sushi, a Japan-based revolving sushi chain with over 480 restaurants.

“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,” the company wrote.

William Blair & Company acted as lead book-running manager for the offering. Stephens Inc. acted as book-running manager for the offering. Craig-Hallum Capital Group and Roth Capital Partners acted as co-managers for this offering.