Sweetgreen Stock debuts on the stock market on Thursday

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Sweetgreen was scheduled to trade on Thursday.

David Paul Morris / Bloomberg

Restaurant chain

Soft green

and daycare operator KinderCare Learning Companies were scheduled to debut on the public stock market on Thursday.

Sweetgreen, the restaurant chain known for its salads, will open later Thursday after increasing the size of its initial public offering. KinderCare has been delayed but is still expected to begin, said three people familiar with the situation. Both companies will be listed on the New York Stock Exchange.

Late Wednesday, Sweetgreen (ticker: SG) raised $ 364 million after increasing the size of its operation to 13 million shares, priced at $ 28 each. The restaurant chain originally planned to sell 12.5 million shares for between $ 23 and $ 25.

At $ 28, Sweetgreen’s valuation is almost $ 3 billion.

Sweetgreen opened its first restaurant in Washington, DC, in 2007. The company currently owns and operates 140 restaurants in 13 states and Washington, DC. Some 68% of Sweetgreen’s revenue comes from its digital channels, while 32% comes from in-store sales.

KinderCare, meanwhile, has priced its IPO, but the company is waiting for the Securities and Exchange Commission. declare its effective registration declarationpeople said. KinderCare’s stock is still expected to debut on Thursday, the people said.

KinderCare (KLC) had deposited at offer 25.8 million shares at $ 18 to $ 21.

Founded in 1969, KinderCare operates 1,490 early childhood education centers in 40 states and Washington, DC.The company focuses on children 6 weeks to 12 years of age, providing education and child care services from the early childhood. Partners Group, an investment manager, acquired the company in 2016 and will hold nearly 73% after the IPO, according to a prospectus.

Write to Luisa Beltran at [email protected]

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