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Brinker International Announces Pricing Of Public Offering Of Common Stock


DALLAS, May 6, 2020 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) (the "Company") announced today that it has priced an underwritten public offering of 7,000,000 shares of its common stock at $18.25 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock. The offering is expected to close on or about May 11, 2020, subject to customary closing conditions.

The Company expects to receive net proceeds of approximately $121 million (or approximately $139 million if the underwriters exercise in full their option to purchase additional shares of common stock), after deducting the underwriters' discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from this offering, including any net proceeds from the underwriters' exercise of their option for general corporate purposes.

J.P. Morgan and BofA Securities are acting as lead book-running managers and representatives of the underwriters for the offering. Wells Fargo Securities, Barclays, SunTrust Robinson Humphrey and MUFG will be serving as book-running managers, and BTIG, PNC Capital Markets LLC and Regions Securities LLC will be serving as co-managers.

The shares of common stock are being offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC").  The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, which may be obtained free of charge on the SEC's website at or by sending a request to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at or toll-free at (866) 803-9204 or to BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Fl., Charlotte, NC  28255-0001, Attn: Prospectus Department. Email:

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.


Brinker International, Inc. is one of the world's leading casual dining restaurant companies. Based in Dallas, Texas, as of March 25, 2020, Brinker owned, operated, or franchised 1,675 restaurants under the names Chili's® Grill & Bar (1,622 restaurants) and Maggiano's Little Italy® (53 restaurants).


The statements contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements except as required by law. Forward-looking statements are based on our current plans and expectations and involve risks and uncertainties which could cause actual results to differ materially from those projected in forward-looking statements. These risks and uncertainties are, in many instances, beyond our control. Such risks and uncertainties include, among other things, health epidemics or pandemics (such as COVID-19), the impact of competition, changes in consumer preferences, consumer perception of food safety, reduced disposable income, unfavorable publicity, increased minimum wages, governmental regulations, the impact of mergers, acquisitions, divestitures and other strategic transactions, the Company's ability to meet its business strategy plan, third party delivery risks, loss of key management personnel, failure to hire and retain high-quality restaurant management, the impact of social media, failure to protect the security of data of our guests and team members, product availability, regional business and economic conditions, litigation, franchisee success, downgrades in our credit ratings, inflation, changes in the retail industry, technology failures, failure to protect our intellectual property, outsourcing, impairment of goodwill or assets, failure to maintain effective internal control over financial reporting, actions of activist shareholders, adverse weather conditions, terrorist acts, health epidemics or pandemics, and tax reform, as well as the risks described under the caption "Risk Factors" in our most-recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.


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SOURCE Brinker International, Inc.