UDPATE 1-Dave & Buster's files for $170 million IPO
(Adds financials, use of proceeds)
WASHINGTON, July 11 (Reuters) - Dave & Buster's Holdings Inc on Friday filed to raise up to $170 million in an initial public offering.
The owner of entertainment and dining venues said in a filing with the U.S. Securities and Exchange Commission that JPMorgan and Jefferies & Co will underwrite the IPO.
The company did not indicate how many shares they plan to sell or the expected price of the shares. It intends to list its stock on the Nasdaq under the symbol "DANB".
Dave & Buster's said as of June 30 it owned and operated 49 units in 20 states and Canada.
For the three months ended May 4, the company earned $5.01 million on $142.46 million of revenues. For the year-earlier period, it reported an $837,000 loss on $135.46 million of revenues.
The company said it plans to use $75 million of the net proceeds from the offering to reduce existing debt. (Reporting by Karey Wutkowski; editing by Carol Bishopric)
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