Restaurant and arcade chain Dave & Buster’s has filed to raise up to $150 million in an initial public offering, according to Reuters. The company was bought by Oak Hill Capital Partners in 2010 for $570 million. Goldman Sachs, Jefferies and Piper Jaffray will underwrite the IPO. After the offering Oak Hill and other investors will continue to retain a majority of the company, Reuters wrote.
(Reuters) – Private equity-backed Dave & Buster’s Entertainment Inc, which operates a restaurant and an arcade chain, filed with U.S. regulators on Friday to raise up to $150 million in an initial public offering of its common stock.
In a filing with the U.S. Securities and Exchange Commission, the company said Goldman Sachs, Jefferies and Piper Jaffray would underwrite the offering.
The Dallas-based company said it plans to list its shares under the symbol ‘PLAY’ but did not specify the exchange it would list on.
The company was taken private by Wellspring Capital & HBK Main Street Investors in 2006 before being bought by Oak Hill Capital Partners in 2010 for $570 million.
After the offering Oak Hill and some of the company’s board members will continue to retain a majority of the voting power in the company.
The filing did not reveal the number of shares the company planned to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Jochelle Mendonca in Bangalore; Editing by Maju Samuel)