Bojangles’ IPO to raise $107M

Bojangles’ Inc. said in a securities filing yesterday that it will issue 6.3 million shares of common stock at a price ranging from $15 to $17 in the fried-chicken chain’s previously announced initial public offering.

The IPO will generate up to $107 million.

Among the information revealed in yesterday’s filing was the average annual per-unit sales volume for the 622-store quick-service chain: $1.8 million. About $650,000 of that total is generated before 11 a.m. at company-run stores, according to the documents.

The company indicated that it intends to expand the chain and bolster awareness through stepped-up marketing.


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