News

Burger King franchisee lists stock price at $6.20 per share

April 25, 2014

Burger King's largest franchisee, Carrols Restaurant Group Inc., has announced the pricing of a public offering of 10,000,000 shares of common stock at a price of $6.20 per share.

According to a news release, the public offering was upsized from the previously announced offering size of up to $60,000,000 of common stock. The underwriters have also been granted a 30-day option by the company to purchase up to an additional 1,500,000 shares of common stock offered in the public offering.

The closing is expected to be on April 30.

Carrols plans to use the proceeds to accelerate remodeling efforts in the brand's new 20/20 restaurant image, as well as to acquire more restaurants and develop new restaurants.