Sweetgreen IPO: How to buy this trendy salad chain's stock?

3 min read | October 26, 2021 09:15 AM EDT | By Raza Naqvi

Sweetgreen IPO: How to buy this trendy salad chain's stock? — Image source: © Nelsonpeng/Megapixl.com

Sweetgreen IPO: Key Details

The 140-unit fast-casual restaurant chain has applied for 'SG' as its stock symbol. The underwriting responsibility would be on Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, and Citigroup.

Although the date for the IPO would be finalized after the final registration statement is approved by the Securities and Exchange Commission (SEC), it seems that Sweetgreen could soon set the terms for the initial public offering.

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Once the IPO is finalized, retail investors may get hold of the pre-IPO shares through selected stockbrokers or trading platforms offering the stock before the company starts trading in a stock market.

Sweetgreen IPO Goldman Sachs

Sweetgreen has opted for an IPO as it plans to use the gross proceeds for capital expenditures, general corporate purposes, operating expenses and working capital.

The company would also spend money enhancing the robotic technology, which came to Sweetgreen after acquiring Spyce, a restaurant managed by robots.

Bottom line

Sweetgreen is looking to grow rapidly as it added around 21 locations in the past year, and it plans to double the current number of stores in the next three to five years.

In addition, the restaurant chain plans to diversify the store formats by adding features like drive-thru or setting up pick-up only stores.

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If the company managed to densify its markets, Sweetgreen could increase its presence in a wide variety of neighborhoods.

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