Fidelity-Backed Sweetgreen (SG) IPO: 6 Things to Know About the Hot $9 Billion Offering

Sweetgreen (NYSE: SG), a fast-casual restaurant chain that serves salads, is due to go public over the next few weeks. Here are 6 key things to know about the upcoming Sweetgreen IPO.

1. Sweetgreen IPO Ticker - Sweetgreen will go public under the ticker symbol “SG” on New York Stock Exchange. Generally, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2. Sweetgreen IPO Underwriters - Goldman Sachs and JPMorgan are key underwriters for this IPO. Allen & Company, Morgan Stanley, Citigroup, Cowen, Oppenheimer, RBC Capital Markets, William Blair, Amerivet, and Blaylock Van are also taking part in the offering.

3. Use of Proceeds - Sweetgreen intends to use raised proceeds to increase capitalization and financial flexibility, create a public market for the Class A common stock and facilitate future access to the capital markets.

4. Sweetgreen Financials - Sweetgreen generates revenues of $95.84 million for the 13 weeks ended September 26, up from $86.2 million generated for 13 months to June 27. For same periods, net losses came in at $30.06 million and $26.88, respectively.

5. Sweetgreen Ownership - SG is backed by D1 Capital Partners, Lone Pine Capital, Fidelity, Arrive, Plus Capital, etc.

6. Sweetgreen Total Addressable Market (TAM) - 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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