Black Rock Coffee Bar, a popular drive-thru coffee chain, has successfully raised $294 million through its initial public offering (IPO). The company, known for its diverse coffee offerings, operates over 150 locations across the Western United States. The shares were priced at $20 each, exceeding the expected range of $16 to $18. This marks a significant milestone as it is the first major IPO from a US restaurant since CAVA in June 2023.
• The offering included 14.7 million shares, with PE sponsor Cynosure Group selling 73% via synthetic secondary.
• Cornerstone investor Wellington Management committed to $30 million, representing 10% of the total offering.
• Black Rock Coffee plans to trade on the Nasdaq under the symbol BRCB.
• The company has 158 locations across seven states as of mid-2025.
This IPO is crucial for Black Rock Coffee Bar as it signals growth and expansion potential in the competitive coffee market. The success of this offering could lead to further investment in the restaurant sector, showcasing confidence in the recovery of the hospitality industry.
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