Noodles & Company said Tuesday that it has filed for a secondary public offering. The company has not disclosed the number of shares it plans to sell; however, it expects to ink an agreement with certain company executives to buy back shares in a private transaction. Noodles & Company currently trades its stock on the NASDAQ under the ticker symbol “NDLS.” Morgan Stanley & Co. and UBS Securities are serving as lead underwriters. Noodles & Company, which is backed by Catterton Partners and Argentia Private Investments, is a fast casual restaurant chain.
BROOMFIELD, Colo., Nov. 19, 2013 (GLOBE NEWSWIRE) — Noodles & Company (Nasdaq:NDLS) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with the proposed primary and secondary public offering of its Class A common stock. Noodles & Company, as well as certain stockholders of Noodles & Company, plan to sell shares in the offering. Noodles & Company also expects to enter into an agreement with certain officers of Noodles & Company to repurchase shares of Class A common stock directly from such officers in a private, non-underwritten transaction at a price per share equal to the net proceeds per share that Noodles & Company and the selling stockholders receive in the offering. Noodles & Company will use the proceeds from the offering to fund the repurchase.
Morgan Stanley & Co. LLC and UBS Securities LLC are acting as lead joint book-running managers for the offering. Jefferies LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Piper Jaffray & Co., Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC are acting as book-running managers.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, by calling (866) 718-1649 or by emailing firstname.lastname@example.org, or from UBS Securities LLC at 299 Park Avenue, New York, New York 10171 or by calling (888) 827-7275.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. A copy of the current registration statement is available on the Securities and Exchange Commission’s Web site, http://www.sec.gov/. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Noodles & Company
Founded in 1995, Noodles & Company is a fast-casual restaurant chain that serves classic noodle and pasta dishes from around the world with 372 locations system-wide in 29 states and the District of Columbia as of November 15, 2013. Known as Your World Kitchen, Noodles & Company’s globally inspired menu consists of more than 25 fresh, customizable noodle bowls, salads, soups and sandwiches that are prepared quickly using quality ingredients. From healthy to indulgent, spicy to comforting, the menu provides favorites for everyone from kids to adults. Popular dishes include the sweet and spicy Japanese Pan Noodles, zesty Pesto Cavatappi and creamy Wisconsin Mac & Cheese.