Kura Sushi USA, which operates 22 Japanese restaurants in the US featuring revolving sushi bars, announced terms for its IPO on Monday.
The Irvine, CA-based company plans to raise $44 million by offering 2.9 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Kura Sushi USA would command a fully diluted market value of $123 million.
Kura Sushi USA was founded in 2008 and booked $60 million in sales for the 12 months ended May 31, 2019. It plans to list on the Nasdaq under the symbol KRUS. BMO Capital Markets and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of July 29, 2019.
