Sweetgreen Inc. doubled its value in its trading debut after raising $364 million in an initial public offering priced above a marketed range.
Shares of the Los Angeles-based company opened trading Thursday at $52 after selling for $28 each in the IPO. They were up 97% to $55.10 at 1:48 p.m. in New York trading after briefly hitting $56.20, giving the company a market value of $5.8 billion. Accounting for employee stock options and similar holdings, the company has a fully diluted value closer to about $6.5 billion.
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November 19, 2021 at 01:54AM
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Sweetgreen (SG) Stock Doubles Valuation in Trading Debut After IPO - Bloomberg
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