Bobby's Burger Palace prepping for IPO
Bobby's Burger Palace is getting ready to file a Regulation A+ initial public offering with the goal of raising $15 million from investors, according to a press release.
"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," Managing Partner Laurence Kretchmer, who founded the concept with Chef Bobby Flay in 2008, said in the release.
"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."
Upon raising the necessary capital, the concept will be listed on the NYSE MKT as "FLAY."