Tags: Restaurant | Arcade | Dave andBusters | IPO

Restaurant and Arcade Chain Dave & Busters Files for IPO

Monday, 08 Sep 2014 06:58 PM

Restaurant and arcade chain Dave & Buster's Entertainment Inc. filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of its common stock.

Increasing market valuations have prompted a string of restaurant chains to try to sell themselves or go public. Zoe's Kitchen Inc., Potbelly Corp. and Papa Murphy's Holdings Inc. have listed themselves in the past year.

Dave & Buster's scrapped efforts to sell itself for more than $1 billion earlier this year. Reuters reported in June that the company has revived plans for an IPO after negotiations on an outright sale did not lead to a deal.

Poor market conditions led Dave & Buster's to abort plans to go public in 2012.

Oak Hill Capital Partners bought the company, founded in 1982, for $570 million in May 2010.

Dave & Buster's, offer sports-oriented entertainment as well as video and simulation games along with food and beverages at 69 venues it owns and operates.

Its revenue increased about 4.5 pct to $635.6 million for the year ended Feb. 2 from a year ago, but net income dropped to $2.2 million from $8.8 million.

Jefferies LLC and Piper Jaffray are the lead underwriters of the IPO, the Dallas, Texas-based company said in a filing with the U.S. Securities and Exchange Commission.

Dave & Buster's intends to list its common stock on the Nasdaq under the symbol "PLAY". The filing did not reveal how many 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 filings is used to calculate registration fees. The final size of the IPO could be different.

© 2017 Thomson/Reuters. All rights reserved.

 
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Restaurant and arcade chain Dave & Buster's Entertainment Inc. filed with U.S. regulators on Monday for an initial public offering of common stock.
Restaurant, Arcade, Dave andBusters, IPO
282
2014-58-08
Monday, 08 Sep 2014 06:58 PM
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