DENVER--(BUSINESS WIRE)--Jan. 26, 2006--Chipotle Mexican Grill,
Inc., the Denver-based burrito joint, announced the pricing of its
initial public offering of 7,878,788 shares of class A common stock,
par value $.01 per share, at a price of $22 per share. Of those
shares, Chipotle will sell 6,060,606 shares, and McDonald's will sell
1,818,182 shares. The Chipotle class A shares trade on the New York
Stock Exchange under the symbol "CMG."
Chipotle will receive net proceeds of approximately $121.4 million
from the offering, which it intends to use to repay outstanding debt,
to provide additional long-term capital to support the growth of its
business (primarily through opening new stores), to continue to
maintain its existing stores and for general corporate purposes.
Following the offering, Chipotle will remain majority owned by
McDonald's. The underwriters in the offering have an overallotment
option to purchase an additional 1,181,818 class A shares from
McDonald's.
The offering was made through an underwriting syndicate led by
Morgan Stanley & Co. Incorporated and SG Cowen & Co., LLC. The other
co-managing underwriters in the syndicate were Banc of America LLC,
Citigroup, JPMorgan, Merrill Lynch & Co., A.G. Edwards, RBC Capital
Markets, Suntrust Robinson Humphrey and Wachovia Securities.
About Chipotle
Chipotle Mexican Grill offers a simple menu of burritos, tacos,
burrito bols (a burrito without the tortilla) and salads made from
fresh, high-quality raw ingredients, prepared using classic cooking
methods and served in a distinctive atmosphere. Through our vision of
Food with Integrity, Chipotle is seeking better food not only from a
variety of fresh ingredients, but ingredients that are sustainably
grown and naturally raised with respect for the animals, the land, and
the farmers who produce the food. Chipotle opened its first store in
1993 and operates more than 480 stores today.
A copy of the prospectus relating to this offering may be obtained
by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street,
New York, New York 10014, Attention: Prospectus Department or by
calling 212-761-6775; or by contacting SG Cowen & Co., LLC, Prospectus
Department at ADP, 1155 Long Island, Edgewood, New York 11717, or by
calling 631-254-7106.
This release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
class A shares in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state.
CONTACT: Chipotle Mexican Grill, Inc.
Chris Arnold, 303-222-5912
carnold@chipotle.com
SOURCE: Chipotle Mexican Grill, Inc.
