WASHINGTON (dpa-AFX) - Bobby's Burger Palace, the casual burger joint launched by celebrity chef Bobby Flay, announced its plans to launch an initial public offering.
Bobby's Burger Palace seeks to raise $15 million in its IPO under Regulation A+ and subsequently be listed as 'FLAY' on the NYSE.
Bobby's Burger Palace is seeking to become the first celebrity-driven company to launch a Regulation A+ IPO with listing on the New York Stock Exchange.
'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,' said Managing Partner Laurence Kretchmer.
TriPoint Global Equities, LLC will work with its online division BANQ as the lead managing selling agent and bookrunner for the offering.
Bobby's Burger Palace was founded in 2008 and currently has 17 locations in the US.
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