Chocolate pricing

Portillo’s Inc. announces the price of the initial public offering


CHICAGO, Oct. 20, 2021 (GLOBE NEWSWIRE) – Portillo’s Inc. (“Portillo’s”), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today announced its public offering pricing initial 20,270,270 shares of its common stock at a public price of $ 20 per share. In addition, the Company has granted the underwriters a 30 day option to purchase up to 3,040,540 additional common shares at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on October 21, 2021 on the Nasdaq Global Select Market under the symbol “PTLO”. The offer is expected to close on October 25, 2021, subject to customary closing conditions.

Jefferies, Morgan Stanley, BofA Securities and Piper Sandler are acting as principal bookkeepers and joint representatives for the proposed offering. Baird, UBS Investment Bank and William Blair also act as principal bookkeepers for the proposed offering. Guggenheim Securities, Stifel, Loop Capital Markets and Ramirez & Co., Inc. are acting as co-managers of the proposed offering.

The proposed offer is made only by means of a prospectus. Copies of the preliminary prospectus included therein relating to the Proposed Offer, when available, may be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, can be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821- 7388, or by email at [email protected]; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities Inc., Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, or by email at [email protected]; or Piper Sandler & Co., Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by phone at (800) 747-3924 or by email at [email protected]

A registration statement on Form S-1 relating to the proposed offer was declared effective by the Securities and Exchange Commission on October 20, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to sell. ‘purchase of such securities, nor Will there be a sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of that state or jurisdiction.

About Portillo
In 1963, Dick Portillo invested $ 1,100 in a small trailer to open Portillo’s first hot dog stand in Villa Park, Ill., Which he called “The Dog House.” Years later, Portillo’s grew to include restaurants in 67 locations across nine states. Portillo’s is best known for its Chicago-style hot dogs, Italian beef sandwiches, grilled burgers, fresh salads, and famous chocolate cake. Portillo’s Home Kitchen is the company’s fast food business. Portillo’s also ships food to all 50 states through its website.

Investor contact:
ICR’s Fitzhugh Taylor
[email protected]

Media contact:
ICR, Inc.
[email protected]