Kura Sushi USA Raises $56M Via Equity Offering

Kura Sushi USA Inc KRUS priced its previously announced underwritten public offering of 1.1 million shares at an offer price of $54 per share.
As part of the offering, the company also granted the underwriters a 30-day option to purchase up to an additional 0.16 million shares. The offering is expected to close on April 13, 2023.
The company expects to receive proceeds of $56.4 million from the offering. The expected proceeds of the offering will be $64.9 million if the underwriters exercise their over-allotment option.
Kura Sushi intends to use the net proceeds from the offering for general corporate purposes.
Price Action: KRUS shares are trading higher by 2.607% at $58.51 on the last check Tuesday.