Bloomin' Brands, a leading casual dining restaurant company and owner of Outback Steakhouse, announced terms for its IPO on Wednesday. The Tampa, FL-based company plans to raise $300 million by offering 21.4 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Bloomin' Brands would command a fully diluted market value of $1.7 billion.
Bloomin' Brands, which was founded in 1987 and booked $3.9 billion in sales for the 12 months ended March 31, 2012, plans to list on the NASDAQ under the symbol BLMN. BofA Merrill Lynch, Morgan Stanley, J.P. Morgan, Deutsche Bank Securities and Goldman Sachs are the joint bookrunners on the deal.
Read our BLMN IPO Preview here.
