Trace, trace
How about we kick off the week with some excellent news?
This morning, American fast-casual restaurant chain Cava raised its IPO price range from $17-$19 per share to $19-$20 per share.
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As we reported during Cava’s IPO run, the corporate shares plenty of similarities with different venture-backed, tech-enabled companies that went public in and round 2021. Meaning this IPO just isn’t a exact comparable for a lot of startups which are ready for the IPO market to return. As a substitute, it’ll serve to assist us observe a bit of personal capital via its recycling interval and catch the present vibe for growth-y corporations.
This morning, we’re asking: What’s Cava’s new mid-point and most valuation given the brand new value vary? Once we examine these figures to its latest income progress and revenue metrics, can we spy any excellent news for unicorns trying to go public as quickly as they’ll gin up the braveness?
So what’s Cava value at its new IPO value vary?
Rising your IPO pricing vary from $17-$19 per share to $19-$20 per share just isn’t that massive of a shift. We’ve seen bigger modifications up to now, particularly when the IPO market has been scorching. Nonetheless, Cava has introduced up the flooring value for its IPO to its earlier ceiling.
That’s nice for the corporate, as will probably be in a position to elevate extra capital with out diluting its shareholders any greater than deliberate.
- At $19 per share, Cava is value $2.12 billion ($2.16 billion if underwriters buy their full choice);
- On the midpoint of its new vary, Cava is value $2.17 billion ($2.21 billion if underwriters buy their full choice);
- At $20 per share, Cava is value $2.23 billion ($2.27 billion if underwriters buy their full choice).
