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SEC Filings

S-1/A
CHIPOTLE MEXICAN GRILL INC filed this Form S-1/A on 12/23/2005
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CAPITALIZATION

        The following table sets forth our cash and cash equivalents and our consolidated capitalization at September 30, 2005:

    on an actual basis to reflect the one for three reverse common stock split, which is part of the Reclassification; and

    on a pro forma as adjusted basis to reflect the Reclassification, the conversion of stock appreciation rights into stock options and the application of the estimated net proceeds that we will receive from this offering, based on an assumed initial public offering price of $16.50 per share (the midpoint of the range shown on the cover page of this prospectus) and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

 
  September 30, 2005
 
 
  Actual
  Pro Forma
As Adjusted

 
 
  (in thousands, except share amounts)
(unaudited)

 
Cash and cash equivalents   $ 1,958   $ 88,168  
   
 
 
Total debt(1)   $ 7,034   $ 2,396  
   
 
 
Shareholders' equity              
  Common stock, $0.03 par value; 31,666,666 shares authorized, 19,457,422 shares issued and outstanding(2)     584      
  Class A common stock, $0.01 par value; 200,000,000 shares authorized, 7,878,788 shares issued and outstanding         79  
  Class B common stock, $0.01 par value; 30,000,000 shares authorized, 24,462,498 shares issued and outstanding         245  
  Preferred stock, $0.01 par value; 40,000,000 shares authorized, comprising:              
    Series B preferred stock, $0.01 par value; 8,034,009 shares issued and outstanding     80      
    Series C preferred stock, $0.01 par value; 3,925,125 shares issued and outstanding     39      
    Series D preferred stock, $0.01 par value; 8,510,639 shares issued and outstanding     85      
  Paid-in capital     378,285     470,111  
  Tax receivable—McDonald's     (38,596 )   (38,596 )
  Accumulated other comprehensive income     9     9  
  Accumulated deficit     (42,713 )   (42,713 )
   
 
 
Total shareholders' equity     297,773     389,135  
   
 
 
Total capitalization   $ 304,807   $ 391,531  
   
 
 

(1)
Total debt consists of $4.6 million outstanding under our line of credit with McDonald's and $2.4 million of deemed landlord financing. The pro forma as adjusted amount gives effect to the repayment of our balance outstanding under the McDonald's line of credit.

(2)
Excludes 228,666 shares of common stock issuable on the exercise of outstanding stock options, 153,333 shares of outstanding non-vested common stock and 771,334 shares of common stock reserved for future issuance under the Chipotle Executive Stock Option Plan. We do not intend to grant additional options under this plan following the consummation of this offering.

        The pro forma as adjusted number of shares of common stock to be outstanding is based on            shares outstanding at September 30, 2005, after giving effect to the Reclassification, and excludes:

    228,666 shares of class A common stock issuable upon the exercise of options outstanding at September 30, 2005 at a weighted average exercise price of $16.25 per share;

    153,333 shares of non-vested common stock outstanding at September 30, 2005;

    shares of class A common stock reserved for future issuance under our Chipotle 2006 Stock Incentive Compensation Plan; and

    148,966 shares of class A common stock issuable upon the exercise of options to be issued upon the conversion of stock appreciation rights outstanding at September 30, 2005.

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