Mediterranean restaurant chain CAVA files for $100M IPO (CAVA)

Mediterranean-themed restaurant chain CAVA Group (CAVA) has filed for a $100M preliminary public providing.

The fast-casual eatery operator did not specify what number of shares it intends to supply or the worth, however indicated in its submitting charge schedule that it was trying to boost $100M, a quantity that’s possible a placeholder and topic to alter.

CAVA hopes to listing its shares on NYSE beneath the image CAVA. Lead bookrunners embrace JP Morgan, Jefferies, Citigroup, Morgan Stanley and Piper Sandler, in accordance with the submitting.

Based mostly in Washington, DC, CAVA had 263 eating places in 22 states and DC as of mid-April. The chain has been working within the purple, reporting a internet lack of $59M on income of $564M for 2022.

CAVA filed confidentially for the IPO in February.

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Restaurant teams Cava, Fogo, Panera reportedly eyeing 2023 IPOs