RJ Sangosti, The Denver Post
Noodles and Company on 16th Street Mall in Denver in 2015. Getting your player ready...
Broomfield-based Noodles & Co. announced a $31.5 million private placement of stock to Connecticut’s Mill Road Capital to “strengthen the balance sheet and fund new initiatives,” according to a company news statement.
Noodles in February had indicated its intention to pursue a public offering through filings with the Securities and Exchange Commission. It also said it would . On Tuesday, the company said it was abandoning those plans.
The restaurant chain will issue Mill Road 8,873,240 shares of Class A common stock at a price per share of $3.55, in a transaction expected to close early next month.
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