July 2 (Reuters) – Upscale casual dining chain Bravo Brio Restaurant Group Inc filed with U.S. regulators on Friday to raise up to $172.5 million in an initial public offering of common stock.
The Columbus, Ohio-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Jefferies and Co, Piper Jaffray and Wells Fargo Securities were the joint book-running managers of the IPO.
The filing did not reveal how many shares the company planned to sell or their expected price.
Bravo Brio, which operates the Bravo! Cucina Italiana, Brio Tuscan Grille and Bon Vie Bistro full-service restaurants primarily in Ohio, Michigan and Pennsylvania, reported net income of $3.4 million on revenue of $311.7 million for 2009.
The restaurant chain, which plans to enter into new senior credit facilities, said it intends to use the proceeds to repay loans outstanding under its existing senior credit facilities and 13.25 percent senior subordinated secured notes.
About $85.8 million principal amount of loans under its existing senior credit facilities and $32.4 million aggregate principal amount of its 13.25 percent senior subordinated secured notes were outstanding, as of March 28, 2010. The company intends to list its common stock on Nasdaq under the symbol “BBRG”. (Reporting by Renju Jose in Bangalore; Editing by Maju Samuel)
UPDATE: Bravo Brio Restaurant Group is backed by Bruckmann, Rosser, Sherrill & Co. Management L.P. and Castle Harlan. Dechert LLP is advising Bravo Brio.