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Chipotle Mexican Grill Announces Pricing of its Initial Public Offering.



DENVER -- Chipotle Mexican Grill Chipotle Mexican Grill (NYSE: CMG) is a Denver, Colorado-based chain of Fresh Mex restaurants specializing in San Francisco burritos and tacos. Founded by Steve Ells in 1993, the restaurant is known for its chunky guacamole and large burritos. , 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 New York Stock Exchange (NYSE)

World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City.
 under the symbol "CMG CMG Coastal & Marine Geology (USGS)
CMG Chipotle Mexican Grill, Inc. (stock symbol)
CMG Companion (of the Order Of) St Michael and St George
CMG Computer Measurement Group
."

Chipotle will receive net proceeds Net Proceeds

The amount received after all costs are deducted from the sale of a piece of property or security.

Notes:
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions).
 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 overallotment option

See greenshoe.
 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 (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
. The other co-managing underwriters in the syndicate were Banc of America LLC, Citigroup, JPMorgan, Merrill Lynch & Co., A.G. Edwards, RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers
Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
  • Canada: RBC Dominion Securities Inc
, 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 (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing.

(2) (Automatic Data Processing, Inc., Roseland, NJ, www.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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jan 26, 2006
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