Canadian restaurant operator Club Versante Group nearly doubles shares offered ahead of $17 million US IPO
IPO Overview
Club Versante Group, a Canadian restaurant and venue operator with four locations, raised the proposed deal size for its upcoming IPO on Thursday.
The Richmond, Canada-based company now plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. The company had previously filed to offer 2 million shares at the same range. At the midpoint of the revised deal size, Club Versante Group will raise 88% more in proceeds than previously anticipated and command a market cap of $61 million.
Club Versante Group operates four restaurant and event venue concepts in or around the Versante Hotel in Richmond, Canada, near the Vancouver International Airport. These include “Bruno”, a fine dining full-service restaurant, “Yankiniku Don”, a Japanese takeaway restaurant, “Ala?a”, a lounge designed for private and corporate events, and “Cask”, a Japanese and Western fusion bar.
Club Versante Group was founded in 2021 and plans to list on the Nasdaq under the symbol CADV. Joseph Stone Capital is the sole bookrunner on the deal.
About the Company
We are a Canada based restaurant group operating 4 restaurants and bars, namely a full-service restaurant, a takeaway restaurant, a Whisky bar and a lounge offering a variety of cuisines and liquors under a portfolio of brands. All the restaurants are located within International Trade Centre, Richmond, British Columbia, Canada. Our mission is to offer an exclusive dining experience under one roof. We opened our first restaurant “Bruno” and our first bar “Cask” in 2021. We expanded our catering services to “Ala?a”， a lounge, in 2022. In order to diversify our product offerings, we further expanded and opened the takeaway restaurant “Yakiniku Don” in May 2024. Each of them showcases exceptional ingredients, refined craftsmanship, and immersive dining experiences. We believe we continue to set new benchmarks in dining while strategically expanding our presence in new markets. Bruno is a fine dining restaurant focused on sustainability and locally sourced ingredients from British Columbia. It offers an intimate yet spacious 6,000 square foot setting, featuring a communal table, private dining options, and a lively bar that seats 30 guests, creating a welcoming atmosphere for both dining and social gatherings. Cask is a Japanese Lzakaya style bar offering an extensive selection of single malts, bourbons, and blended whiskies alongside handcrafted cocktails, wines, and local craft beers. Guests can enjoy Japanese-style snacks and Western cuisine in a casual dining setting. Ala?a is a stylish lounge designed for private and corporate events, blending food, art, music, and fashion. With a sky-high ceiling, monochromatic décor, and a wraparound balcony showcasing panoramic views, it provides an elegant setting. Yakiniku Don offers Japanese rice bowls, covering beef, pork, chicken and eel. /Yakiniku Don does not offer dine in service and is available exclusively for pick-up and delivery. Yakiniku Don is supported and served by kitchen of Cask.