Dave & Buster's gets back into publicly traded game, raising $94.1 million in share offering

MarketsAssociated Press

Dave & Buster's has raised approximately $94.1 million in its initial public offering of company shares.

The Dallas company priced the IPO of about 5.9 million shares at $16 apiece, at the low end of the projected range of $16 to $18 per share.

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Dave & Buster's Entertainment Inc. is the parent company of Dave & Buster's Inc., a chain of restaurant, video and game arcades. The company was taken private in 2006 by Wellspring Capital Partners and HBK Main Street Investors, which sold it four years later to Oak Hill Capital.

Dave & Buster's is giving underwriters a 30-day option to buy up to an additional 882,352 shares.

The company is using the proceeds from the IPO, targeted to close Thursday, to pay down debt.

The stock will trade on the Nasdaq under the "PLAY" ticker symbol.