CAVA is hoping to turn grain bowls into green.
The Washington, D.C.-based Mediterranean restaurant chain is testing the market for IPOs as it begins trading on the New York Stock Exchange today under the ticker CAVA. The company announced Wednesday evening it sold 14.4 million shares at the price of $22 per share, which raises about $318 million. The strong pricing is above its previously stated target of $19 to $20 per share, which was already increased from its prior target of $17 to $19. At $22 per share, the company is valued at about $2.45 billion based on its outstanding share count.
