Denny’s Corporation announced that it has priced its underwritten public offering of 8,000,000 shares of its common stock, $0.01 par value at a public offering price of $9.15 per share of Common Stock. In addition, Denny’s granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of Common Stock. The offering is expected to close on July 6, 2020, subject to customary closing conditions.

Denny’s expects to receive net proceeds of approximately $69.6 million (or approximately $80.1 million if the underwriters exercise in full their option to purchase additional shares of Common Stock) in the offering, after deducting the underwriters’ discounts and commissions and estimated offering expenses. Denny’s intends to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional shares of Common Stock, for general corporate purposes.

Wells Fargo Securities, LLC, SunTrust Robinson Humphrey, Inc., Citizens Capital Markets and Regions Securities LLC are acting as joint book-running managers in connection with the offering and Wells Fargo Securities, LLC is acting as representative of the underwriters in connection with the offering.  BNP Paribas Securities Corp., Fifth Third Securities, Inc., MUFG Securities Americas Inc., Blaylock Van, LLC, C.L. King & Associates, Inc. and Wedbush Securities Inc. are acting as co-managers in connection with the offering.

The shares of Common Stock are being offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission (the “SEC”).  The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, which may be obtained free of charge on the SEC’s website at, by sending a request to Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or by emailing a request to

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of Common Stock or any other security and shall not constitute any offer, solicitation or sale in any jurisdiction in which such offer, solicitation, purchase or sale is unlawful.

Casual Dining, Chain Restaurants, Industry News, Denny's