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Mediterranean-themed restaurant chain CAVA Group (CAVA) has filed for a $100M initial public offering.
The fast-casual eatery operator didn’t specify how many shares it intends to offer or the price, but indicated in its filing fee schedule that it was looking to raise $100M, a number that is likely a placeholder and subject to change.
CAVA hopes to list its shares on NYSE under the symbol CAVA. Lead bookrunners include JP Morgan, Jefferies, Citigroup, Morgan Stanley and Piper Sandler, according to the filing.
Based in Washington, DC, CAVA had 263 restaurants in 22 states and DC as of mid-April. The chain has been operating in the red, reporting a net loss of $59M on revenue of $564M for 2022.
CAVA filed confidentially for the IPO in February.
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