Yoshiharu Global, which operates seven ramen-focused Japanese restaurants in Southern California, filed on Tuesday with the SEC to raise up to $18 million in an initial public offering.
The Buena Park, CA-based company plans to raise $18 million by offering 4 million units at a price range of $4 to $5. Each unit consists of one share of common stock and one warrant, exercisable at 125% of the IPO price. At the midpoint of the proposed range, Yoshiharu Global would command a market value of $63 million.
Because the company is offering units with warrants attached, Yoshiharu will be excluded from Renaissance Capital's 2022 IPO stats.
Yoshiharu is a Japanese restaurant operator specializing in authentic Japanese ramen. The company also offers a variety of sushi rolls, bento menu, and other favorite Japanese cuisine. Yoshiharu currently owns and operates seven restaurants across Southern California, with an additional two new restaurants under construction or in development, and eight expected to open in 2022.
Yoshiharu Global was founded in 2016 and booked $7 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol YOSH. The company filed confidentially on December 15, 2021. EF Hutton is the sole bookrunner on the deal.
