Kura Sushi USA Announces Closing of $68.3 Million Public Offering of Common Stock

Kura Sushi USA, Inc., a technology-enabled Japanese restaurant concept, today announced the closing of its underwritten public offering of 1,265,000 shares of its Class A common stock at a public offering price of $54.00 per share, including the exercise in full by the underwriters of their option to purchase an additional 165,000 shares of Class A common stock. The Company received proceeds from the offering, net of the underwriters’ discount, of approximately $64.9 million.

Kura Sushi intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures, working capital, and other business purposes.

Citigroup, William Blair & Company, L.L.C. and Barclays Capital Inc. acted as lead book-running managers for the offering. Stephens Inc. acted as book-running manager for the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners acted as co-managers for this offering.

Kura Sushi USA has 45 locations across 14 states and Washington, D.C., and offers guests a distinctive dining experience built on authentic Japanese cuisine and an engaging revolving sushi service model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a Japan-based revolving sushi chain with over 500 restaurants and 40 years of brand history.