Granite City raises $14M in private placement

MINNEAPOLIS Granite City Food & Brewery Ltd. said Monday it completed a $14 million private placement of its common stock to fund restaurant expansion, retire certain equipment lease debt and for general corporate purposes.

The company sold about 2.6 million shares for $5.35 per share to new and existing institutional investors, the company reported.

Granite City, which operates 18 casual-dining restaurants in the Midwest, said it plans to open seven

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