Club Versante Group, a Canadian restaurant and venue operator with four locations, raised the proposed deal size for its upcoming IPO on Thursday.
The Richmond, Canada-based company now plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. The company had previously filed to offer 2 million shares at the same range. At the midpoint of the revised deal size, Club Versante Group will raise 88% more in proceeds than previously anticipated and command a market cap of $61 million.
Club Versante Group operates four restaurant and event venue concepts in or around the Versante Hotel in Richmond, Canada, near the Vancouver International Airport. These include "Bruno", a fine dining full-service restaurant, "Yankiniku Don", a Japanese takeaway restaurant, "Alaïa", a lounge designed for private and corporate events, and "Cask", a Japanese and Western fusion bar.
Club Versante Group was founded in 2021 and plans to list on the Nasdaq under the symbol CADV. Joseph Stone Capital is the sole bookrunner on the deal.
