Cava Group, the Mediterranean-focused fast-casual restaurant chain, priced its initial public offering of 14.4 million shares at $22 apiece on Wednesday, up from a prior range, as it gears up for a trading debut set for Thursday.
With 111.4 million shares to be outstanding, Cava will have a valuation of more than $2.4 billion. The company is set to list on the New York Stock Exchange under the ticker symbol CAVA. JPMorgan, Jefferies and Citigroup are lead underwriters in a team of 10 banks working on the deal.
Cava…
