News from around the state of Texas

Taco Cabana's Fiesta Upsizes Public Offering

Price increased to $46 per share

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    NEWSLETTERS

    TK
    Flickr/Wyscan

    Fiesta Restaurant Group Inc. has increased the size of its public offering of common stock to 2.7 million shares and priced it at $46 per share.

    The Addison-based company on Friday made the announcement. Fiesta owns Pollo Tropical and Taco Babana restaurants.

    The company previously planned to offer $100 million of common stock. All shares are being sold by Fiesta. The price represents a 2 percent discount to Fiesta's Thursday closing stock price of $47.06.

    The underwriters have been granted a 30-day option by the company and some of its executives to buy up to 405,000 more shares of common stock, of which 26,664 shares are currently issued and outstanding and held by the company executives.

    The offering is expected to close Wednesday.