Habit Restaurants Inc, a fast-food restaurant chain known for its burgers, filed with US regulators on Thursday for an initial public offering of common stock. The Irvine, California-based company listed Piper Jaffray, Baird and Wells Fargo among the underwriters to the IPO. The company, which operates the Habit Burger Grill chain of restaurants, offers charburgers, sandwiches and milk shakes.
Founded in 1969 in California, the chain has 98 restaurants in four US states. Its shareholders include private investment firm KarpReilly LLC. The company reported a 43 percent increase in revenue to $120.4 million for the year ended December 31. Net income nearly doubled to $5.8 million during the period.
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