Can Noodles & Company be the Next Chipotle or Panera?

Well the company is IPOing this Friday and it seems they are raising the range on the company.

The company had initially priced its IPO in the range of $13 to $15 a share, but announced on Tuesday that the range would be lifted to $1 to $17, showing that investor demand is high. The company was originally to raise $75 million from the IPO, based on $14 per share, in the middle of the original range. 

Assuming Noodles prices in the middle of the higher range at $16 per share, proceeds will likely be in the $85 million dollar ballpark. This should help combat investors' main worry going into the IPO: Growth versus debt. 

They seem to be using quite a bit of that money to pay down their debt which isn't due until 2017. They have some nice earnings growth metrics which add up to 120% since 2010. Also the food looks pretty damn tasty. I would eat the Penne Rosa and the Pesto Cavatappi right now. The BBQ pork sandwich looks pretty good as well. 

Of course there are none in Hawaii but they have a few in Oregon and California. The menu doesn't look too huge and imposing but I would like to see more Japanese noodles represented though. I think Americans would enjoy Udon or Soba in broth.