Ignite Restaurant Group IPO: seeking $322 mn valuation

Have you ever eaten at Joe's Crab Shack? Well, soon, you'll be able to own a piece of it! The restaurant's parent company, Ignite Restaurant Group, has revealed its IPO terms. It's planning to raise $75 mn by selling 5.8 mn shares, 3 percent from insiders, for $12 to $14 each. At the mid-point, it would be worth $322 mn. The lead underwriters are Credit Suisse, Baird and Piper Jaffray. Ignite Restaurant Group plans to list on NASDAQ and trade under the symbol IRG.

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Source: Renaissance Capital

Photo: the prodigal untitled13 via Flickr