GEN Restaurant (NASDAQ:GENK) stock is a hot topic among traders on Wednesday as the company’s shares are set to start trading today.
Let’s get into some of the most important news traders need to know about GEN Restaurant as shares start trading.
GENK Stock Details Worth Knowing
- First up, the company’s shares will start trading today with the launch of its initial public offering (IPO).
- This will see the stock listed at $12 per share, which is at the high end of its $10 per share to $12 per share range.
- The IPO has the company offering up 3.6 million shares of GENK stock for total gross proceeds of $43.2 million.
- Additionally, underwriters have the option to acquire another 540,000 shares of the stock for the IPO price.
- Roth Capital Partners is acting as the sole book-running manager and representative of underwriters for the offering.
- GEN Restaurant says it will use the funds from the IPO for general corporate purposes, such as opening new restaurants.
- The restaurants operated by the company feature grills in the center of tables that let customers cook their own food to foster a sense of camaraderie compared to traditional casual dining.
Investors will want to keep an eye on GENK stock as the company’s shares should start trading sometime today. The initial stock movement during its debut could give traders an idea of what to expect from the company.
While you wait for GENK stock to start trading, there’s more stock market news worth catching up on below!
We’ve got a breakdown of all the biggest stock market stories worth reading about on Wednesday. A few examples of that include why shares of Mullen Automotive (NASDAQ:MULN), Faraday Future (NASDAQ:FFIE), and Lucid Group (NASDAQ:LCID) stock are in the news today. You can catch up on all of this news at the following links!
More Stock Market News for Wednesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
