Tags: bobby flay | ipo | burger palace

Bobby Flay IPO: Burger Palace to Offer Public a Bite of Biz

Image: Bobby Flay IPO: Burger Palace to Offer Public a Bite of Biz

Television personality and chef Bobby Flay attends the 11th annual Vegas Uncork'd by Bon Appetit Grand Tasting event presented by the Las Vegas Convention and Visitors Authority, Chase Sapphire and Southern Glazer's Wine and Spirits of Nevada at Caesars Palace on April 28, 2017, in Las Vegas, Nevada. (Ethan Miller/Getty Images for Vegas Uncork'd by Bon Appetit)

By Jen Krausz   |   Monday, 17 Jul 2017 03:05 PM

An IPO for Bobby Flay's Burger Palace is coming soon, the Iron Chef and Food Network host announced Monday, taking advantage of new rules that allow smaller companies to do so.

Flay has 17 Burger Palace locations so far, and hopes to raise $15 million to expand to more locations and grow the chain globally, according to The Wall Street Journal.

The chef hopes his emphasis on professional cooking techniques, fresh ingredients, and unique recipes such as the Crunchburger — a burger topped with potato chips — will convince investors to take a chance on his company even though there are many other burger chains to choose from.

The Regulation A+ offering of the IPO means any investor can buy shares, rather than just accredited, larger investors that are permitted to take part in a regular IPO.

“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,” managing partner Laurence Kretchmer said, Fox Business reported.

The company will be part of the small cap equity market under the symbol “FLAY.” Bobby’s Burger Palace first opened in 2008.

Flay specializes in southwestern and Cajun cuisine and owns several restaurants including Mesa Grill and Bobby Flay Steak. He is a master instructor and visiting chef at the French Culinary Institute where he was trained. He also has appeared in many Food Network shows including “Boy Meets Grill,” “Throwdown! With Bobby Flay,” “The Best Thing I Ever Ate,” and “Beat Bobby Flay.”

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An IPO for Bobby Flay's Burger Palace is coming soon, the Iron Chef and Food Network host announced Monday, taking advantage of new rules that allow smaller companies to do so.
bobby flay, ipo, burger palace
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2017-05-17
 

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