GEN Restaurant Group Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
June 30 2023 - 4:39PM
GEN Restaurant Group, Inc. (the “Company” or “GEN”) (NASDAQ: GENK),
owner of GEN Korean BBQ, a fast-growing experiential Asian dining
concept, announced today the closing of its initial public offering
of 3,600,000 shares of its Class A common stock at a price of
$12.00 per share, and the full exercise by the underwriters of
their option to purchase an additional 540,000 shares of Class A
common stock. The Company received proceeds from the offering, net
of the underwriters’ discount, of approximately $46.2 million.
The Class A common stock began trading on the
Nasdaq Global Market under the symbol “GENK” on June 28, 2023.
Roth Capital Partners acted as sole book-running
manager and representative of the underwriters for the offering.
Craig-Hallum Capital Group and The Benchmark Company acted as
co-managers for the offering.
The offering of these securities was made only
by means of a prospectus. Copies of the final prospectus relating
to the offering can be obtained once available from: Roth Capital
Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attn.:
Prospectus Department, telephone: 800-678-9147.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on June 27, 2023. This press release shall not
constitute an offer to sell or the solicitation of any offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About GEN
GEN Korean BBQ is a fast-growing experiential
Asian dining concept with over 30 locations in 7 states. The
Company offers guests a unique dining experience where guests serve
as their own chefs preparing meals on embedded grills in the center
of each table. The extensive menu consists of traditional Korean
and Korean-American food, including high-quality meats, poultry,
seafood and mixed vegetables. With its unique culinary experience
alongside its modern décor and lively atmosphere, GEN Korean BBQ
delivers an engaging and interactive dining experience.
Forward‐Looking Statements
This press release contains forward-looking
statements. Forward-looking statements may be identified by the use
of words such as “intend,” “expect”, and “may”, and other similar
expressions that predict or indicate future events or that are not
statements of historical matters. Forward-looking statements are
based on current information available at the time the statements
are made and on management’s reasonable belief or expectations with
respect to future events, and are subject to risks and
uncertainties, many of which are beyond the Company’s control, that
could cause actual performance or results to differ materially from
the belief or expectations expressed in or suggested by the
forward-looking statements. Additional factors or events that could
cause actual results to differ may also emerge from time to time,
and it is not possible for the Company to predict all of them.
Forward-looking statements speak only as of the date on which they
are made, and the Company undertakes no obligation to update any
forward-looking statement to reflect future events, developments or
otherwise, except as may be required by applicable law. Investors
are referred to the Company’s registration statement for additional
information regarding the risks and uncertainties that may cause
actual results to differ materially from those expressed in any
forward-looking statement.
Investor Relations Contact:
Jeff Priester(332)
242-4370investor@genbbqoffice.com
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