Kura Sushi USA Announces Closing of $ 56.9 Million Public Operation



IRVINE, Calif., July 23, 2021 (GLOBE NEWSWIRE) – Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”), (NASDAQ: KRUS), a fast-growing technology-based Japanese restaurant concept, today announced the closing of its subscribed public offering of 1,265,000 Class A common shares at a public offering price of $ 45 per share, including the full exercise by the underwriters of their option to purchase 165,000 additional Class A ordinary shares. The Company received proceeds of the offering, net of the underwriters’ discount, of approximately $ 54.1 million.

Kura Sushi intends to use the net proceeds of the offering for general corporate purposes, including capital expenditures, repayment of outstanding debt under its existing revolving credit agreement with its parent company, working capital and other business purposes.

William Blair & Company, LLC acted as the senior bookkeeping manager for the offering. Stephens Inc. acted as book manager for the offer. Craig-Hallum Capital Group LLC and Roth Capital Partners acted as co-managers of this offer.

The offering has been made pursuant to a valid pre-registration statement including a base prospectus which has been filed with the Securities and Exchange Commission (the “SEC”) and declared effective and is available on the website of the SEC. A prospectus supplement and the related base prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website. Copies of these documents can be obtained from William Blair & Company, LLC, Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by email at: [email protected] and Stephens Inc., Attention: Prospectus Department, 111 Center Street, Little Rock, AR 72201, by email to: [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction where such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kura Sushi USA, Inc.

Kura Sushi USA, Inc. is a fast growing technology-based Japanese restaurant concept with 32 locations in nine states and Washington DC. The company offers its customers a distinctive dining experience by serving authentic Japanese cuisine through a rotating and engaging sushi serving model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a rotating sushi chain based in Japan with over 480 restaurants and 35 years of brand history. For more information, please visit www.kurasushi.com.

Forward-looking statements

With the exception of historical information contained in this document, statements contained in this press release or otherwise made by our management in connection with the subject matter of this press release are forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) and involve risks and uncertainties and are subject to change depending on various important factors. This press release includes forward-looking statements based on management’s current estimates or expectations regarding future events or future results. These statements are not historical in nature and can generally be identified by words such as “target”, “may”, “could”, “will”, “objective”, “intention”, “should”, “could”. “,” Could “,” may, “” would “,” expect “,” believe “,” design “,” estimate “,” continue “,” predict “,” potential “,” plan “,” anticipate “or the negative of such terms and similar expressions. Management’s expectations and assumptions concerning future results are subject to risks, uncertainties and other factors which could cause actual results to differ materially from results. anticipated or other expectations expressed in forward-looking statements included in this press release. These risks and uncertainties include, but are not limited to: risks associated with the COVID-19 epidemic; our ability to successfully resume and sustain increases in our comparable restaurant sales; our ability to execute successfully complete our growth strategy and open new profitable restaurants; our ability to expand into existing and new markets; our projected growth in the number of our restaurants; macroeconomic conditions and other economic factors; our ability to compete with many other restaurants; our dependence on vendors, suppliers and distributors, including our parent company Kura Sushi, Inc .; concerns about food safety and foodborne illness; changing consumer preferences and the level of acceptance of our catering concept in new markets; increases in minimum wages and mandatory employee benefits that could result in a significant increase in our labor costs; the failure of our automated equipment or computer systems or the breach of the security of our network; the loss of key members of our management team; the impact of government laws and regulations; the volatility of the price of our common shares; and other risks and uncertainties as described in our filings with the SEC. These and other factors that could cause results to differ materially from those described in forward-looking statements contained in this press release can be found in other documents filed by the Company with the SEC. You should not place undue reliance on forward-looking statements, which are only current as of the date on which they are made. The Company assumes no obligation to update or revise its forward-looking statements, except as required by applicable law.

Investor Relations Contact:
Fitzhugh taylor
(657) 333-4010
[email protected]



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