Bojangles' (BOJA) IPO Opens Up 40%

Today's IPO for Bojangles', Inc. (NASDAQ: BOJA) opened for trading at $26.55 after pricing 7,750,000 shares of its common stock at a price to the public of $19 per share, the high end of the expected $18-$19 range.

BofA Merrill Lynch, Wells Fargo Securities and Jefferies are acting as joint lead book-running managers in the offering. Barclays, Goldman, Sachs & Co., Piper Jaffray, William Blair, KeyBanc Capital Markets and RBC Capital Markets are also acting as book-running managers in the offering. Stephens Inc. and SunTrust Robinson Humphrey are acting as co-managers in the offering.

Bojangles', Inc. is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from our Southern recipes. Founded in 1977 in Charlotte, N.C., Bojangles' serves menu items such as delicious, famous chicken, made-from-scratch buttermilk biscuits, flavorful fixin's and Legendary Iced Tea®. At March 29, 2015, Bojangles' had 258 company-operated and 377 franchised restaurants, primarily located in the Southeastern United States.

Highlights:

• Delivered 19 consecutive quarters of system-wide comparable restaurant sales growth through our fiscal quarter ended December 28, 2014, including 7.0% for the fiscal quarter ended December 28, 2014;
• Grew our system-wide and company-operated restaurant count at a compounded annual growth rate, or CAGR, of 7.0% and 9.0%, respectively, from fiscal 2011 to fiscal 2014;
• Expanded our total revenues from $299.9 million in fiscal 2011 to $430.5 million in fiscal 2014, representing a CAGR of 12.8%;
• Grew net income from $4.6 million in fiscal 2011 to $26.1 million in fiscal 2014; and
• Increased Adjusted EBITDA from $45.4 million in fiscal 2011 to $68.9 million in fiscal 2014, representing a CAGR of 14.9%.

You May Also Be Interested In

• Rubrik IPO: 5 key things to know
• Junee Ltd (JUNE) Prices 2M Share IPO at $4/sh
• UL Solutions (ULS) Prices Upsized 33.8M Share IPO at $28/sh