Golden Gate Capital on Wednesday said that it commenced its tender offer for all the outstanding shares of Los Angeles casual dining chain California Pizza Kitchen.

San Francisco-based Golden Gate, a private equity firm whose restaurant holdings include On the Border Mexican Grill & Cantina and Romano’s Macaroni Grill, is offering shareholders $18.50 per share. The tender offer and withdrawal rights are scheduled to expire on July 6, unless extended or terminated in accordance with terms of the deal.

California Pizza Kitchen on May 25 announced that it had accepted Golden Gate Capital’s $470 million bid. The acquiring entity is an affiliate of Golden Gate Capital Opportunity Fund L.P.

At $18.50 a share, the offer is more than a 10 premium to California Pizza’s closing price the day before the announcement, and it is a 32 percent premium to the 30-day average price before the company announced it was reviewing strategic alternatives.

Shares were up 3 cents, or less than 1 percent, to $18.42 in midday trading on the Nasdaq.