7 Things to Know About the Upcoming Sweetgreen, Inc. (SG) IPO

Sweetgreen, Inc. (NYSE: SG) is set to launch its U.S. IPO next week. Sweetgreen is fast casual restaurant chain that serves salads through delivery or pickup, with a mission to build healthier communities by connecting people to real food. The IPO will be available on the Robinhood IPO access platform, among other brokerages. Below are 7 important facts to focus on into the IPO:

1. Sweetgreen IPO Timing: Sweetgreen, Inc. is expected to have its IPO on the NYSE on Nov 18, 2021. The stock ticker is 'SG'. Normally IPOs on the NYSE began trading between 10AM-2PM ET.

2. Sweetgreen IPO Price: The company anticipates the initial public offering price to be between $23.00 and $25.00.

3. Shares Offered: The company is offering 12,500,000 shares of its Class A common stock, granting underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its Class A common. There will be a total of 106,311,529 shares of Class A and Class B common stock (or 108,186,529 shares, assuming the option to purchase additional shares of Class A common stock is exercised in full) outstanding after this offering.

4. Sweetgreen IPO Valuation: A pricing at the midpoint of the range would suggest a valuation of at least $2.5 billion.

5. IPO Underwriters: Goldman Sachs & Co. LLC, J.P. Morgan, Allen & Company LLC, Morgan Stanley, Citigroup, Cowen, Oppenheimer & Co., RBC Capital Markets, William Blair, Amerivet Securities, and Blaylock Van, LLC are acting as underwriters for the proposed offering.

6. Important Sweetgreen Financials: The company’s net revenues increased from $42 million to $274 million during the 2014-2019 period, representing a 46% CAGR. The company’s net revenue was $243 million for the fiscal year to date through September 26, 2021, compared to $161 million for the fiscal year to date through September 27, 2020.

7. Sweetgreen Total Addressable Market (TAM): In total, the U.S. food system represented a $1.8 trillion market in 2019, of which food away from home was an approximately $980 billion market, according to the U.S. Department of Agriculture.

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