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Burger Fuel chairman Peter Brook says the company will look at its options for expansion after its share float failed to raise the full $15 million.
The fast food firm had offered 15 million shares at $1 each for 25 per cent of the company - valuing it at $60 million.
The float closed on July 16 but was extended until Monday because it had not reached the minimum $8 million it needed to float on the sharemarket.
Brook said the final outcome, and whether the $8 million threshold had been reached, would be clear when shares bought by credit card had been collated. An announcement is expected tomorrow.
Burger Fuel founding shareholders Josef Roberts and Chris Mason have said they would cover the shortfall to reach the $8 million.
The money raised from the IPO is to be used for expansion into Australia and to investigate other markets.
Brook said the float coming in at $8 million rather $15 million would affect a planned rollout of new franchise stores in New Zealand and Australia.
Currently the company owns two stores and 19 franchised operations.
He said he would make a statement about its plans this week.
But Brook said that even it the company had sold all 15 million shares in the original offer it would not have been able to spend it all immediately.
The Burger Fuel float has attracted publicity because of its unorthodox marketing which has targeted customers as potential shareholders.
And commentators also questioned the risk associated with the investment and the $60 million valuation for the company.
