Wingstop Inc. (NASDAQ:WING) (“Wingstop” or the “Company”) has announced the pricing of a secondary offering of 5,750,000 shares of its common stock by certain selling stockholders at a public offering price of $24.00 per share. The offering includes an increase of 750,000 shares offered by certain of the selling stockholders from the amount of shares previously announced. In addition, such selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of their common stock at the public offering price, less the underwriting discount. No shares are being sold by the Company in the offering and the Company will not receive any proceeds from the sale of shares.
The closing for the offering is expected to occur on March 14, 2016, subject to the satisfaction of customary closing conditions.
Morgan Stanley, Jefferies, and Baird are acting as lead joint book-running managers for the offering. Goldman, Sachs & Co., Barclays, and Wells Fargo Securities are acting as book-running managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 8, 2016. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a prospectus. The final prospectus relating to the offering will be filed with the Securities and Exchange Commission and copies may be obtained, when available, from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department; or Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attention: Equity Syndicate Prospectus Department (Tel: +1 877 547 6340, e-mail: Prospectus_Department@Jefferies.com); or Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, Attention: Syndicate Department (Tel: + 1 800 792 2473, e-mail: firstname.lastname@example.org).
Founded in 1994 and headquartered in Dallas, Texas, Wingstop has more than 845 restaurants open across the United States, Mexico, Singapore, the Philippines, Indonesia and United Arab Emirates. Wingstop specializes in cooked-to-order, hand-sauced and tossed chicken wings offered in 11 proprietary flavors, which range from extremely hot to mild: Atomic, Mango Habanero, Cajun, Original Hot, Louisiana Rub, Mild, Hickory Smoked BBQ, Lemon Pepper, Garlic Parmesan, Hawaiian and Teriyaki. Wingstop’s bone-in and boneless chicken wings can be paired with a variety of house-made sides including Wingstop’s hand-cut, freshly-prepared seasoned fries.