Zoe’s Kitchen, which operates 113 fast-casual restaurants across 15 states offering Mediterranean inspired dishes, increased the proposed price range for its upcoming IPO on Tuesday. The Birmingham, AL-based company now plans to raise up to $87.5 million by offering 5.8 million shares at a price range of $13 to $15. The company had previously filed to offer the same number of shares at a range of $11 to $13. At the high end of the revised range, Zoe's Kitchen would raise 25% greater proceeds than previously anticipated and command a fully diluted market cap of $276 million (enterprise value of $263 million). Zoe's Kitchen plans to list on the NYSE under the symbol ZOES. Jefferies & Co., Piper Jaffray and Baird are the joint bookrunners on the deal. It is expected to price during the week of April 7, 2014.
