Fiesta Restaurant Prices Public Offering Of 2.7 Mln Shares At $46/Share

(RTTNews) - Fiesta Restaurant Group, Inc.(FRGI) announced the pricing of public offering of 2.7 million common shares at $46.00 per share. The closing of the offering is expected to occur on November 20, 2013.

The company said that the public Offering was upsized from the previously announced offering size of up to $100 million of common stock.

The company and certain executive officers granted underwriters a 30 day option, as selling stockholders, to buy up to an additional 405,000 shares, of which 26,664 shares are currently issued by executive officers. The company said it will not receive any sale net proceeds, if any, by the selling stockholders.

The company intends to use offering net proceeds and revolving credit borrowings to repurchase a 8.875% Senior Secured Second Lien Notes due 2016, to repay borrowings under its existing credit facility, to pay related fees and expenses of the public Offering and for general corporate purposes.