New Chipolte Documents Out

Chipotle released some additional details about their planned IPO, which will take place early next year.

The registration statement tells us they are planning to sell 100 million shares, or McDonalds' 92% stake in the company. It is probably the most colorful and descriptive registration statement I have seen recently, it is everything you would expect from Chipotle (except you can't eat it).

Doing a little back of the envelope math, it seems to me that EBITDA per share will end up somewhere around $.48 for 2005, leading to the most important question: how much is this one going to cost? Unfortunately the price per share has not been announced yet, so stay tuned.

Timothy Burger
timothyb(at)timothyburger.com