Renaissance Capital logo

Zoe's Kitchen prices IPO at $15, at high end of the range

April 10, 2014

Zoe's Kitchen, which operates 113 fast-casual restaurants serving Mediterranean-inspired comfort food, raised $87 million by offering 5.8 million shares at $15, at the high end of the upwardly revised range of $13 to $15. It had initially filed to offer the same number of shares at a price range of $11 to $13. At its offer price, the company will have a fully diluted market cap of $276 million (enterprise value of $263 million). Zoe's Kitchen will list on the NYSE under the symbol ZOES. Jefferies & Co., Piper Jaffray and Baird acted as lead managers on the deal.