Dave & Buster's Entertainment, Inc. announced an initial public offering of shares of common stock. The company is selling 7,692,308 shares of common stock. The initial public offering price is expected to be between $12 and $14 per share. The company intends to use the net proceeds from the offering to reduce its aggregate indebtedness by approximately $80.0 million, as well as to pay related premiums, interest and expenses.
The company has applied to list its common stock on The NASDAQ Stock Market LLC under the symbol PLAY. The underwriters may also purchase up to an additional 1,153,846 shares from the company at the public offering price, less the underwriting discount, within 30 days from the date of the prospectus.
The company said, after applying the proceeds from the offering, its aggregate indebtedness will be approximately $384.8 million on an as adjusted basis as of July 29, 2012.
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by RTT Staff Writer
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