Bobby Flay’s fast casual burger joint will launch an initial public offering and everyday investors will be able to get in on that action.
Bobby’s Burger Palace will attempt to raise $US15 million and subsequently be listed as “FLAY” on the NYSE, using the Regulation A+ offering established by the SEC in 2015.
“While a traditional public offering is generally reserved for large institutional investors and only the clients of the investment bank, we are taking advantage of new SEC regulations to level the playing field for all investors to participate concurrently in our IPO,” said Managing Partner Laurence Kretchmer.
TriPoint Global Equities, LLC will work with its online division BANQ as the lead managing selling agent and bookrunner for the offering.
Bobby’s Burger Palace, founded in 2008, currently has 17 locations in the US. The company stated in a press release that part of the goal for the IPO is generating funds to expand both domestically and globally.