The Habit Restaurants (HABT) IPO Opens Up 67%
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Today's IPO for The Habit Restaurants (NASDAQ: HABT) opened for trading at $30 after pricing of its initial public offering of 5,000,000 shares of its Class A common stock at a public offering price of $18 per share, above the expected $14-$16 range.
Piper Jaffray & Co., Robert W. Baird & Co. Incorporated and Wells Fargo Securities, LLC are acting as lead book-runners for the offering. Raymond James & Associates, Inc. is also acting as a book-runner for the offering, and Stifel and Stephens Inc. are acting as co-managers for the offering.
The Habit Burger Grill is a fast casual restaurant concept that specializes in preparing fresh, made-to-order char-grilled burgers and sandwiches featuring USDA choice tri-tip steak, grilled chicken and sushi-grade albacore tuna cooked over an open flame. The first Habit opened in Santa Barbara, California in 1969. The Habit has since grown to over 100 restaurants in 10 markets throughout California, Arizona, Utah and New Jersey.
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