GEN Restaurant Group, a Korean BBQ restaurant chain with 32 locations in the US, filed on Friday with the SEC to raise up to $25 million in an initial public offering.
The company states that its restaurants offer an extensive menu of traditional Korean and Korean-American food, including unlimited meats, poultry, seafood, and mixed vegetables at a fixed price with alcoholic beverages available for separate purchase. Guests cook the majority of their meals themselves on a grill embedded in the center of each table, allowing for minimal wait times once seated. Guests also have full control over their portions and the ability to grill their food at their desired pace and temperatures. GEN operates 32 locations across California, Arizona, Nevada, Hawaii, Texas, and New York.
The Cerritos, CA-based company was founded in 2011 and booked $169 million in sales for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol GENK. GEN Restaurant Group filed confidentially on November 12, 2021. Roth Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
