PE Shop To Sell Last Wingstop Stake In 6.8M Share Offering

By Fola Akinnibi (November 3, 2016, 8:12 PM EDT) -- Roark Capital Group Inc. plans to sell off the remainder of its stake in expansion-minded chicken wing restaurant chain Wingstop Inc., the private equity shop said on Wednesday, in a secondary offering that could raise $178.3 million.

The private equity firm said it will sell the remaining 6.77 million shares, or 23.6 percent stake, it owns in Wingstop, according to a filing with the U.S. Securities and Exchange Commission. This marks Roark's third offering of its Wingstop holdings this year, and it comes about three months after the last sell-off. In the August offering, the firm priced 6 million shares at...

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