Retail
IPO Filing: Dave & Buster's Entertainment Coming Public Again!
Published:
Last Updated:
Dave & Buster’s Entertainment Inc. filed with the U.S. Securities and Exchange Commission (SEC) to have an initial public offering (IPO). The company did not give any terms this time, but the offering is up to $100 million. Dave & Buster’s plans on listing on the Nasdaq Stock Market under the symbol PLAY.
The underwriters for the offering are Jefferies, William Blair, Raymond James, LOYAL3 Securities, Piper Jaffray and Stifel.
Dave & Buster’s owns dining and entertainment venues that market to both adults and families. At the beginning of September, the company owned and operated 69 stores in 26 states and Canada. For the 12 months that ended on August 3, it generated total revenues of $689.9 million and a net loss of $7.7 million. The 26 weeks prior to August 3, 2014, it generated revenues of $376.2 million with a net loss of $2.4 million, while the same period in the previous year it generated $321.9 million in revenues with a net income of $7.5 million.
For the 2013 fiscal year, Dave & Busters generated total revenues of $635.6 million and a net income of $2.2 million. The fiscal year of 2012 generated revenues of $608.1 million with a net income of $8.8 million. In the 2011 fiscal year, the company had revenues of $541.5 million with a net loss of $7.0. Between the years of 2011 and 2013, total revenues grew at a compound annual growth rate of 8.3%.
READ ALSO: Is the Compuware Buyout Price Worth It?
What investors will want to know is that Dave & Buster’s was public prior to this filing. It was one of the private equity buyouts. The company’s filing said:
On June 1, 2010, Dave & Buster’s Entertainment, Inc. (“D&B Entertainment”), a newly-formed Delaware corporation owned by Oak Hill Capital Partners III, L.P. and Oak Hill Capital Management Partners III, L.P. (collectively, the “Oak Hill Funds”) acquired all of the outstanding common stock of Dave & Buster’s Holdings, Inc. (“D&B Holdings”). As a result of the acquisition and certain post-acquisition activity, the Oak Hill Funds directly control approximately 95.4% of D&B Entertainment’s outstanding common stock.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.