Cava Group, Inc.

Cava Group, Inc. (CAVA) priced its initial public offering on Jun 16, 2023 at $22.00 per share, above its $19.00–$20.00 range, raising $317.8M, and listed on NYSE. At the IPO price its market capitalization was about $2.45B. Simpson Thacher advised the company and Skadden, Arps advised the underwriters.

CAVA Group, Inc. operates CAVA, a Mediterranean fast-casual restaurant brand that combines healthful food with bold flavors. It describes its mission as bringing heart, health and humanity to food, drawing on Mediterranean heritage.

Status

IPO

Ticker

CAVA

Exchange

NYSE

Priced

Jun 16, 2023

IPO price

$22.00

Price range

$19.00–$20.00

Raised

$317.8M

Market cap at IPO price

$2.45B

First filed

May 19, 2023

Company counsel

Simpson Thacher

Underwriters' counsel

Skadden, Arps

Sector

Consumer

Country / state

DC

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.