The company also completed a private placement of approximately 1.8 million shares of newly issued Buca common stock with institutional investors in the quarter. The offering was priced at $18.50 per share and resulted in net proceeds to the company of about $31.4 million, most of which will be used to fund development through 2002.
Minneapolis-based Buca owns and operates BUCA di BEPPO restaurants, a collection of Southern Italian restaurants in 19 states and District of Columbia.
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