El Pollo Loco 2015 Annual Report Download - page 97

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Table of Contents
EL POLLO LOCO HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
16. STOCK SPLIT, AUTHORIZATION OF ADDITIONAL SHARES, AND INITIAL PUBLIC OFFERING
On July 14, 2014, Holdings amended its certificate of incorporation to increase the number of shares that Holdings is authorized to issue to
200 million shares of common stock, par value $0.01 per share. The amendment of the certificate of incorporation effected an internal
recapitalization pursuant to which Holdings effected an 8.56381-for-1 stock split on its outstanding common stock.
Accordingly, all common share and per share amounts in the consolidated financial statements and these notes thereto have been adjusted to
reflect the 8.56381-for-1 stock split as though it occurred at the beginning of the initial period presented.
On July 24, 2014, Holdings amended and restated its certificate of incorporation to, among other things, increase its authorized share count to
300,000,000 shares of stock, including 200,000,000 shares of common stock and 100,000,000 shares of preferred stock, each par value $0.01 per
share. On July 30, 2014, Holdings completed its initial public offering of 8,214,286 shares of common stock at a price to the public of $15.00 per
share (the “IPO”), including 1,071,429 shares sold to the underwriters pursuant to their option to purchase additional shares. After underwriting
discounts, commissions, and fees and expenses of IPO offering and distribution, as set forth in our registration statement for the IPO on Form S-
1, the Company received net IPO proceeds of approximately $112.3 million. The Company used these proceeds primarily to repay in whole a
$100 million second lien term loan (the “Second Lien Term Loan”).
17. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following table sets forth a summary of our unaudited quarterly operating results for each of the last eight quarters in the period ended
December 31, 2014. We have derived this data from our unaudited consolidated interim financial statements that, in our opinion, have been
prepared on substantially the same basis as the audited financial statements contained elsewhere in this report and include all normal recurring
adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited quarterly results should be
read in conjunction with our financial statements and notes thereto included elsewhere in this report. The operating results in any quarter are not
necessarily indicative of the results that may be expected for any future period.
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