Kura Sushi USA, Inc. Launches an Underwritten Public Offering of Class A Common Stock

Kura Sushi USA, Inc., a well-known name within the technology-enabled Japanese restaurant sector, recently disclosed the initiation of an underwritten public offering of Class A common stock. This announcement, made on November 11, 2024, was followed by another release on November 12, 2024, detailing the pricing regarding the Offering.

The company intends to make available 695,938 shares of its Class A common stock at a public offering price of $85.00 per share, expecting to yield around $56.2 million in net proceeds post the deduction of underwriters’ discount. Moreover, as part of this offering, the company has provided the underwriters a 30-day option to procure up to an additional 104,390 shares to cover any over-allotments, if applicable. If the over-allotment option is entirely exercised by the underwriters, the net proceeds from the offering, after deductions, are projected to be approximately $64.6 million. The closure of this offering is scheduled to occur on November 13, 2024, subject to meeting customary closing conditions.

The funds amassed from this offering are intended to be deployed towards general corporate purposes, which encompass capital expenditures, working capital requirements, and other business objectives.

The joint book-running managers for this offering include William Blair & Company, L.L.C., Barclays Capital Inc., and TD Securities (USA) LLC. Additionally, acting as co-managers are Craig-Hallum Capital Group LLC, Roth Capital Partners, LLC, and The Benchmark Company, LLC.

The Offering is being conducted under an effective shelf registration statement, which includes a base prospectus filed with the Securities and Exchange Commission (SEC). For further details or queries related to this offering, interested parties may acquire relevant documents from the contact information provided by the involved entities.

About Kura Sushi USA, Inc.
Kura Sushi USA, Inc., operating as a technology-driven Japanese restaurant concept, currently manages 70 establishments spread across 20 states along with Washington, D.C. The company specializes in offering diners an authentic Japanese culinary experience coupled with an interactive revolving sushi service model. Established in 2008 as a subsidiary of Kura Sushi, Inc., the brand leverages over 40 years of brand history and expertise from its Japan-based parent company comprising a vast network of more than 550 restaurants.

Forward-Looking Statements
Apart from historical data, the content delineated in this press release and as articulated by the company’s management in connection with this announcement may contain forward-looking statements, primarily reflecting the current estimates or expectations concerning future events or outcomes. These statements, though not historical in nature, carry inherent risks and uncertainties, subject to modification based on various important factors and challenges.

Investor Relations Contact:
Jeff Priester
(657) 333-4010
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kura Sushi USA’s 8K filing here.