July 25, 2011Dave & Busters Files for IPODALLAS -- Dave & Buster's said it has filed a statement with the U.S. Securities and Exchange Commission for an initial public offering of its common stock. Dave & Buster's Files For $150M IPO | Articles | Music & Games Features | Vending Times Inc. According to news reports, the company hopes to raise $150 million with the planned offering. Oak Hill Capital Partners, the owner of the entertainment and restaurant chain, and other investors are expected to retain a majority of the company. Dave & Buster's said the offering is expected to be made through an underwriting group led by Goldman Sachs & Co., Jefferies & Co. Inc. and Piper Jaffray & Co. It intends to use net proceeds from the offering to repay a portion of its outstanding debt. The move continues D&B's long tradition of repeatedly cycling back and forth from publicly held to privately held status. The previous round of this cycle occurred in 2006 when Wellspring Capital & HBK Main Street Investors took the chain private. Four years later Oak Hill bought D&B's for $570 million. Separately, D&B's opened its 25th store in Orlando, Florida on July 18. Founded in 1982, the company has sites in 24 states and in Canada.
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