CAVA Group's Impressive Debut Shows Investor Appeal for IPOs is Growing
Conditions for the IPO market are still far from normal, but green shoots continue to emerge, hinting that brighter days may be on the horizon. The final positive signs emerged earlier this morning when CAVA Group (CAVA) placed 14.4 million shares at $22, above its upwardly revised $19-$20 price range. Initially, the deal was expected to be in the range of $17 to $19. Overall, the deal attracted total gross proceeds of $316.8 million, nearly $58 million more than the company had expected based on the midpoint of the initial price range.
Strong CAVA prices follow...