Noodles & Co. Boosts Share Price Expected In IPO
BROOMFIELD, Colo. (AP) — Noodles & Co. Inc. now says it expects its stock to fetch $15 to $17 per share once the fast-casual restaurant chain goes public.
That’s an increase of $2 per share over its earlier estimates.
The Broomfield, Colo.-based company plans to offer about 5.35 million shares in its initial public offering, which Nasdaq has listed for Friday under the symbol NDLS.
Noodles & Co. said in a regulatory filing Tuesday that it expects about $77 million in net proceeds, assuming an initial public offering price of $16 per share. It plans to use about $76 million of that to repay borrowings and the rest for working capital and other general corporate purposes.
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