Benzinga | Jan 22, 2021 05:37AM EST

BJ's Restaurants Announced $25M At-The-Market Equity Offering Program

BJ's Restaurants, Inc. (NASDAQ:BJRI) announced that it is filing a prospectus supplement with the Securities and Exchange Commission ("SEC"), under which the Company may, from time to time, offer and sell shares of its common stock (the "Shares") having an aggregate offering price of up to $25,000,000 through an "at-the-market" equity offering program (the "ATM Program"). The Company currently intends to use the net proceeds from sales of Shares under the ATM Program for working capital and other general corporate purposes, including capital expenditures and new restaurant expansion, as well as to strengthen our balance sheet. The timing of any sales under the ATM Program will depend on a variety of factors to be determined by the Company.

The Shares will be offered through J.P. Morgan Securities LLC ("J.P. Morgan"), as sales agent. J.P. Morgan may sell Shares by any method permitted by law deemed to be an "at-the-market offering" as defined in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made directly on the Nasdaq Global Select Market, on any other existing trading market for the Shares, to or through a market maker or in negotiated transactions. Sales may be made at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices and, as a result, sales prices may vary.