Bobby’s Burger Palace, the fast casual burger concept created by award-winning Master Chef, Bobby Flay, announced on Monday it plans to file a Regulation A+ initial public offering. The restaurant reported that it is seeking to become the first celebrity-driven company to launch a Regulation A+ IPO with listing on the New York Stock Exchange MKT (NYSE MKT).
The restaurant, which was founded in 2008, operates 17 locations throughout nine states and Washington D.C. It notably has a menu comprised of over a dozen made-to-order, high-quality, never-frozen signature burgers, with proprietary sauces and toppings, hand-cut fries, as well as salads, milkshakes, and refreshing drinks, all created from original Bobby Flay recipes. While sharing details about the restaurant, Flay stated:
“I created Bobby’s Burger Palace with one goal in mind – to bring a quality burger experience to everyone and I have spent the last nine years perfecting the concept. I am thrilled to be able to finally share BBP with our fans around the world.”
Managing Partner of Bobby’s Burger Palace, Laurence Kretchmer, added:
“We are very excited to be able to bring Bobby’s Burger Palace to millions of Americans and other investors around the world by creating the opportunity to invest in our Company by buying shares at the initial offering price,” said . “While a traditional public offering is generally reserved for large institutional investors and only the clients of the investment bank, we are taking advantage of new SEC regulations to level the playing field for all investors to participate concurrently in our IPO.”
Bobby’s Burger Palace intends to use the funds from the offering for domestic and international expansion, sales and marketing, along with working capital and other general corporate purposes.
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