Restaurant operator Bloomin Brands files for $300 million IPO
(Reuters) - Bloomin Brands, which runs the Outback Steakhouse restaurant chain, filed with regulators to raise up to $300 million in an initial public offering of its common stock.
In a filing with the Securities and Exchange Commission on Friday, the company said BofA Merrill Lynch, Morgan Stanley, JPMorgan, Deutsche Bank Securities and Goldman Sachs were underwriting the IPO.
The Tampa, Florida-based casual dining chain, which owns and operates 1,248 restaurants, plans to use the proceeds from the IPO to retire its outstanding debt.
Bloomin Brands -- which also runs the Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse and Wine Bar and Roy's chains -- expects its shares to trade under the symbol "BLM."
The company did not say how many shares it plans to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filings is just used to calculate registration fees. The final size of the IPO can be very different. (Reporting by Vidya P L Nathan in Bangalore; Editing by Viraj Nair)
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