Kura Sushi USA, Inc. (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced that it has commenced an underwritten public offering of 1,100,000 shares of its Class A common stock. All shares of Class A common stock are being offered by the Company. In connection with the offering, Kura Sushi intends to grant the underwriters a 30-day option to purchase an additional 165,000 shares of its Class A common stock.
Kura Sushi intends to use the net proceeds from the proposed offering for general corporate purposes, including capital expenditures, working capital, and other business purposes. Citigroup, William Blair & Company, L.L.C. and Barclays Capital Inc. are acting as lead book-running managers for the offering. Stephens Inc. is acting as book-running manager for the offering.
Kura Sushi USA, Inc. is a technology-enabled Japanese restaurant concept with 45 locations across 14 states and Washington, D.C. The Company offers guests a distinctive dining experience built on authentic Japanese cuisine and an engaging revolving sushi service model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a Japan-based revolving sushi chain with over 500 restaurants and 40 years of brand history.