SA: US CFOs’ top priority is cost-cutting amid economic uncertainty, survey finds
SEEKING ALPHA reports: With economic and geopolitical uncertainty lingering, finance chiefs in the U.S. have directed ...
Seeking Alpha‘s Wall Street Breakfast out today:
The IPO market is showing some signs of life after waves of economic uncertainty and a monetary policy tightening cycle that put the brakes on going public. There have been 44 IPOs in the U.S. this year that have raised $7.3B, which are soon set to overtake last year’s 71 IPOs that raised $7.7B, according to Renaissance Capital. It still pales in comparison to the bumper listings of 2021, whose 397 IPOs raised $142.4B, highlighting that the market is still a ways away from a full comeback.
Add some harissa: Fast-casual Mediterranean restaurant chain Cava will become the latest company to test the waters today as some bullish sentiment returns to Wall Street. Shares have been priced above range at $22, raising almost $318M and valuing the company at about $2.45B. The company is set to list on the New York Stock Exchange this morning under ticker symbol “CAVA,” using proceeds from the offering to fund future new restaurant openings and general corporate purposes, such as loan repayments, construction and capital expenditures.
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