Restaurant chain Cava is preparing to launch its IPO roadshow this week – report
Mediterranean chain of restaurants under the title Cava Group (CAVA) to launch an initial public offering roadshow early Tuesday.
kava (CAVA) plans to sell stock for $17 to $19, which in the end will appreciate the fast casual restaurant At $ 2.2 billion, according to A Wall Street Journal report which cited people familiar with the matter. If the roadshow is successful, CAVA is expected to begin trading on the New York Stock Exchange the following week.
kava (CAVA) It went public last month. Headquartered in Washington, D.C., CAVA had 263 restaurants in 22 states and in D.C. as of mid-April. The chain has been operating in the red, posting a net loss of $59 million on revenue of $564 million for 2022.
CAVA confidentially filed for an IPO in February.
More on the restaurant’s IPOs: