Mediterranean-themed restaurant chain Cava Group (CAVA) is set to launch a roadshow for its initial public offering as early as Tuesday.
Cava (CAVA) plans to sell shares for $17 to $19, which at the high end would value the fast casual eatery at $2.2 billion, according to a WSJ report that cited people familiar with the matter. If the roadshow is successful, CAVA is expected to start trading on the NYSE the following week.
Cava (CAVA) filed for an IPO last month. 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 $59 million on revenue of $564 million for 2022.
CAVA filed confidentially for the IPO in February.