Fogo de Chao Shares Surge in Debut, CEO Details Expansion Plans

NEW YORK (TheStreet) -- Shares of Fogo de Chao  continued their move higher on Friday after the Brazilian steakhouse's bankers priced its IPO shares above their initial range on the Nasdaq. Fogo shares priced at $20 apiece, above their initial range of $16 to $18 dollars each. Fogo's CEO Larry Johnson said the company will use the proceeds from the IPO to pay down debt while at the same time refinancing existing debt. Fogo de Chao, which means "fire pit" in Portuguese, is owned by private equit...