Source:https:\/\/techcrunch.com\/2023\/06\/15\/cava-restaurant-ipo-stock-price\/<\/a><\/br>
\nCava\u2019s explosive IPO hints that public markets are more ready for growth-stories than founders thought<\/br>
\n2023-06-15 21:40:28<\/br><\/p>\n

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It\u2019s been so long<\/span> since TechCrunch+ has had the pleasure of covering an IPO from S-1<\/a> to first-day trading that we\u2019ve nearly forgotten how to do it. Shaking off the cobwebs, let\u2019s talk about how Cava\u2019s debut went on Thursday.<\/p>\n

After setting an initial IPO price range<\/a> of $17 to $19 per share, later raising the interval<\/a> to between $19 and $20, Cava priced<\/a> at $22 per share.<\/p>\n

The fast-casual restaurant chain is not TechCrunch+\u2019s usual topic fare, but as the company was heavily backed by private capital<\/a> during its early life \u2014 including some venture capital dollars<\/a> \u2014 and how starved we have been for any data on how public-market investors would react to new growth stories, well, we\u2019ve paid attention.<\/p>\n

So, too, were the public market types, it seems, as Cava shares opened today at $42 per share and are currently trading at $42.33, up more than 92% from the company\u2019s IPO price.<\/p>\n

The IPO was a win from a pricing perspective, with the company easily besting the price area we had tipped for it. It was a winner of a fundraising event as well, with the company selling 14.44 million shares for a gross haul of $317.8 million. That figure will rise when its banks execute their underwriter\u2019s option in time.<\/p>\n

Looking at the Cava debut you would be hard pressed to find any signs that public market investors are not chomping at the bit for new offerings from operating groups that have a good chunk of growth ahead of them. That\u2019s a startup-friendly market, at least in theory.<\/p>\n

TechCrunch+ spoke with Cava CEO and co-founder Brett Schulman after his company began to trade, asking why this was the right time to go public. He said that investors are always \u201cwelcoming to long-term sustainable growth\u201d stories. Given the general trajectory of software companies and the perspective in recent years that the TAM for tech products is even bigger <\/a>than previously anticipated, we can read a nice bullish indicator from the Cava IPO for tech startups that may want, or need, to go public.<\/p>\n<\/p><\/div>\n

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Science, Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2023\/06\/15\/cava-restaurant-ipo-stock-price\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/15\/cava-restaurant-ipo-stock-price\/ Cava\u2019s explosive IPO hints that public markets are more ready for growth-stories than founders thought 2023-06-15 21:40:28 It\u2019s been so long since TechCrunch+ has had the pleasure of covering an IPO from S-1 to first-day trading that we\u2019ve nearly forgotten how to do it. Shaking off the cobwebs, let\u2019s talk about how Cava\u2019s debut […]<\/p>\n","protected":false},"author":1,"featured_media":35116,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-35115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\n