Yoshiharu Global Co.
(Note: Yoshiharu Global Co. upsized its IPO at pricing on Sept. 8, 2022, to 2.94 million shares, up from 2.45 million shares in the prospectus, and priced its IPO at $4.00, the low end of its $4.00-to-$5.00 range, to raise $11.76 million. In an S-1/A filing dated Sept. 2, 2022, Yoshiharu Global Co. cut its IPO to 2.45 million shares of Class A common stock, down from 2.75 million shares, and kept the price range at $4.00 to $5.00. Estimated IPO proceeds were cut to $11.03 million from $12.38 million. This marked the second reduction in the IPO’s size in a week. In an Aug. 29, 2022, S-1/A filing, the IPO was cut to 2.75 million shares from 3.75 million shares, and the price range was kept at $4.00 to $5.00, while the underwriter was changed to only EF Hutton as the sole book-runner.)
(Note: The selling stockholders will also sell up to 1.32 million shares of Class A common stock, but the company will not receive any proceeds from the sale of the selling stockholders’ shares. This IPO’s structure was changed in a May 27, 2022, S-1/A filing to only stock from its initial form as a unit offering, and the number of shares was cut to 3.75 million shares from 4.0 million shares (part of the unit offering) initially.)
Yoshiharu is a fast-growing Japanese restaurant operator and was borne out the idea of introducing the modernized Japanese dining experience to customers all over the world. Specializing in authentic Japanese ramen, Yoshiharu gained recognition as a leading ramen restaurant in Southern California within six months of our 2016 debut and has continued to expand our top-notch restaurant service across Southern California, currently owning and operating 6 restaurant stores with an additional 3 new restaurant stores under construction/development and an additional 8 restaurant stores expected to open in 2022.
We take pride in our warm, hearty, smooth, and rich bone broth, which is slowly boiled for over 12 hours. Customers can taste and experience supreme quality and deep flavors. Combining the broth with the fresh, savory, and highest-quality ingredients, Yoshiharu serves the perfect, ideal ramen, as well as offers customers a wide variety of sushi, bento menu and other favorite Japanese cuisine. Our acclaimed signature Tonkotsu Black Ramen has become a customer favorite with its slow cooked pork bone broth and freshly made, tender chashu (braised pork belly).
Our mission is to bring ramen and Japanese cuisine to the mainstream, by providing a meal that customers find comforting. Since the inception of the business, we have been making our own ramen broth and other key ingredients such as pork chashu and flavored eggs from scratch, whereby upholding the quality and taste of our foods, including the signature texture and deep, rich flavor of our handcrafted broth. Moreover, we believe that slowly cooking the bone broth makes it high in collagen and rich in nutrients. Yoshiharu also strives to present food that is not only healthy, but also affordable. We feed, entertain and delight our customers, with our active kitchens and bustling dining rooms providing happy hours, student and senior discounts, and special holiday events. As a result of our vision, customers can comfortably enjoy our food in a friendly and welcoming atmosphere.
|Address||6940 Beach Blvd. Suite D-705, Buena Park, CA 90621|
|Phone Number||(714) 694-2403|
|View Prospectus:||Yoshiharu Global Co.|
|Revenues||$6.5 mil (last 12 months)|
|Net Income||$-1.63 mil (last 12 months)|
|Price range||$4.00 - $4.00|
|Est. $ Volume||$11.8 mil|
|Manager / Joint Managers||EF Hutton|
|Expected To Trade:||9/9/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|