Restaurant Eyeing IPO.The Los Angeles-based California Pizza Kitchen California Pizza Kitchen (NASDAQ: CPKI, known within the food industry as CPK) is a casual dining restaurant chain that specializes in California-style pizza. The restaurant was started in 1985 by attorneys Rick Rosenfield and Larry Flax in Beverly Hills, California, chain plans to test the choppy seas of the initial public offering market this summer by selling shares of its stock to raise an estimated $70 million. Known for its specialty pizzas with toppings ranging from tandoori chicken Tandoori chicken is a chicken dish that originated in India. The chicken is marinated in a yogurt seasoned with either prepared tandoori masala. It is traditionally moderately hot, but the heat is toned down to a "mild" taste level in most Western nations. to grilled garlic shrimp, CPK CPK creatine kinase. CPK creatine phosphokinase. said in its filing with the Securities and Exchange Commission that the money would be used to pay off $40 million in bank debt and buy back preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The offering price and number of shares to be sold were not disclosed. The company, which owns and franchises 100 restaurants, including 41 in California, vowed to carefully choreograph further expansion in coming years, a move that an analyst said could reassure investors who were burned in the 1990s by the stocks of restaurant chains that pursued go-go growth plans while neglecting menus and service. |
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