Fast casual restaurant chain Muscle Maker files for a $7 million IPO
Muscle Maker, a healthy fast casual restaurant chain with 53 mostly-franchised stores, filed on Tuesday with the SEC to raise up to $7 million in an initial public offering. The company also registered $52 million worth of shares to be issued subject to convertible notes and representative warrants. It previously filed for a Reg A+ IPO in 2017 but did not complete the offering.
The Houston, TX-based company was founded in 1995 and booked $5 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol MMB. Alexander Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
Reported by Renaissance Capital