Simpson Thacher represented CAVA Group, Inc. (“CAVA”) in connection with its initial public offering of common stock at a price to public of $22 per share. A total of 16,611,110 shares of common stock were sold in the offering, including the full exercise by the underwriters of their option to purchase up to 2,166,666 additional shares of common stock. The offering raised approximately $340.7 million in gross proceeds. Shares of CAVA are now listed on The New York Stock Exchange under the ticker symbol “CAVA.”
CAVA is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale.
The Simpson Thacher team included Kenneth Wallach, Hui Lin, Evan Zuckerman and Alex Michael (Capital Markets); Charlie Mathes, Jennifer Nadborny, Bettina Elstroth, Siobhan Lam and Robert Hayes (Public Company Advisory Practice); Sophie Staples and Lina Pan (Tax); David Rubinsky, Andrew O’Brien and Jeffrey Penn (Executive Compensation and Employee Benefits); Jessica Cohen, Corina McIntyre and Sarika Pandrangi (IP); Timothy Gallagher (Real Estate); and Leah Malone and Emily Holland (ESG).