Wingstop, a fast casual chicken wing-focused restaurant chain with 745 locations, announced terms for its IPO on Tuesday.
The Dallas, TX-based company plans to raise $75 million by offering 5.8 million shares (63% insider) at a price range of $12 to $14. At the midpoint of the proposed range, Wingstop would command a fully diluted market value of $385 million and an enterprise value of $495 million
Wingstop, which was founded in 1994 and booked $70 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol WING. Morgan Stanley, Jefferies, Baird, Goldman Sachs, Barclays and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2015.
