GEN Restaurant Group, a Korean BBQ restaurant chain with 34 locations in the US, raised $43 million by offering 3.6 million shares at $12, the high end of the range of $10 to $12. The company offered 0.6 million more shares than anticipated.
GEN's restaurants offer 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, as well as full control over portions and food customizations. As of 6/14/23, GEN operated 34 locations across California, Arizona, Nevada, Hawaii, Texas, New York, and Florida.
GEN Restaurant Group plans to list on the Nasdaq under the symbol GENK. Roth Capital acted as sole bookrunner on the deal.
