Noodles' stock offering set at $39.50/share
Last Updated: 15:04 December 6, 2013
Restaurant chain Noodles & Co. (Nasdaq:NDLS) also expects to enter into an agreement to repurchase shares of Class A common stock from certain officers of the company in a private, nonunderwritten transaction. The price per share would be equal to the net proceeds per share that Noodles and the selling stockholders receive in the offering. Noodles will use the proceeds from the offering to fund the repurchase.
Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers and representatives of the underwriters for the offering. Jefferies LLC, BofA Merrill Lynch, Piper Jaffray & Co., Robert W. Baird & Co. Inc. and RBC Capital Markets, LLC are acting as book-running managers.
For up to 30 days, the company and the selling stockholders have granted the underwriters the right to purchase up to an additional 675,000 shares of common stock to cover over-allotments.
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