Dave & Buster's Files For $100 Mln IPO

(RTTNews) - Dave & Buster's Entertainment, which owns dining and entertainment venues, has filed a registration statement with the Securities and Exchange Commission or SEC to raise up to $100 million in an initial public offering. The company did not specify the number of shares to be sold and the pricing.

The Dallas, Texas based company plans to list on the NASDAQ under the symbol PLAY.

The company, which was founded in 1982, planned to use offering proceeds to repay term-loan debt.

Jefferies and Piper Jaffray are the joint bookrunners on the deal.

For the 26 weeks ended August 3, the company posted revenue of $376.2 million, up from prior year's $321.9 million, whereas the company swung to a net loss of $2.4 million as it recorded a loss on debt retirement.

On June 1, 2010, Dave & Buster's Entertainment, Inc., a newly-formed Delaware corporation owned by Oak Hill Capital Partners III, L.P. and Oak Hill Capital Management Partners III, L.P. acquired all of the outstanding common stock of Dave & Buster's Holdings, Inc.. 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, the company said in its filing.

The company originally set terms to raise $100 million in late 2012. Oak Hill acquired Dave & Buster's in May 2010.