Noodles & Company Prices 4.5M Share Offering at $39.50 Per Share
Noodles & Company (Nasdaq: NDLS) today announced the pricing of its primary and secondary offering by the Company and selling stockholders of 4,500,000 shares of Class A common stock at a price of $39.50 per share. Noodles & Company also expects to enter into an agreement with certain officers of Noodles & Company to repurchase shares of Class A common stock directly from such officers in a private, non-underwritten transaction at a price per share equal to the net proceeds per share that Noodles & Company and the selling stockholders receive in the offering. Noodles & Company will use the proceeds from the offering to fund the repurchase.
Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers and representatives of the underwriters for the offering. Jefferies LLC, BofA Merrill Lynch, Piper Jaffray & Co., Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC are acting as book-running managers. For up to 30 days, the Company and the selling stockholders have granted the underwriters the right to purchase up to an additional 675,000 shares of common stock to cover over-allotments.
The registration statement for Noodles & Company