CKE Restaurants Reveals Terms of IPO

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By Trey Thoelcke Published
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CKE Restaurants Inc., the fifth-largest operator of quick-service hamburger restaurants globally, has announced the estimated terms of its planned initial public offering. Some 13.3 million shares will be priced between $14 and $16 each.

CKE is offering 6.7 million shares to raise funds to pay down debt. Apollo CKE Holdings LP is offering an additional 6.7 million. CKE will not receive proceeds from sales by Apollo, its sole shareholder.

The company, which operates and franchises the Carl’s Jr. and Hardee’s fast-food restaurants, said its focus is on fast-growing emerging markets.

The company filed for the offering in May. It has applied to list its shares on the New York Stock Exchange using the symbol CK.

Shares of competitor McDonald’s Corp. (NYSE: MCD) ended Friday at $89.19 in a 52-week range of $82.01 to $102.22. Wendy’s Co. (NASDAQ: WEN) closed at $4.55 in a 52-week range of $4.29 to $5.58, and Jack in the Box Inc. (NASDAQ: JACK) sits at $27.00 in a 52-week range of $18.25 to $28.44.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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