Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Panera Bread announces SPAC investment, will return to the public markets through an IPO

by
November 9, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

New York identifies ‘disadvantaged communities’ that will receive extra climate funding

Goldman Sachs picks the winners and losers in regional banks after the SVB collapse

Florida, Spring Hill, Nature Coast Commons, shopping mall, Panera Bread bakery.

Jeff Greenberg | Universal Images Group | Getty Images

Panera Bread is preparing to go public again through an initial public offering.

The sandwich chain also announced Tuesday it has secured an investment from Danny Meyer’s special purpose acquisition company, USHG Acquisition Corp. Shares of the SPAC climbed 8% in premarket trading on the news.

Meyer said he plans to invest in Panera once it’s public personally and through his SPAC. Special purpose acquisition companies have no assets but can use the proceeds from an IPO, combined with bank financing, to buy and take privately held consumer companies public. The investment in Panera is an unusual deal for a SPAC, which will exchange its shares for the sandwich chain’s stock and survive the merger with Panera’s subsidiary Rye Merger, according to regulatory filings.

SPAC investors can pull their money out of the deal before it’s done, so Panera’s current owner JAB Holding has agreed to invest more to offset redemptions. Once the deal is completed, Meyer will become lead independent director of Panera’s board.

Panera went private in 2017 after JAB Holding bought the company for $7.5 billion. As a privately held company, the chain has kept investing in technology, boosting its digital sales. Earlier this year Panera unveiled a new restaurant design inspired by the pandemic’s changes to consumer behavior.

Panera’s upcoming IPO is the latest in a string of changes of JAB’s portfolio this year. The company, which is the investment arm of the Reimann family, sold Au Bon Pain to a Yum Brands franchisee earlier this year. Under JAB’s ownership, many Au Bon Pain locations were converted into Panera restaurants, shrinking its footprint from roughly 300 locations to 171. Then, in July, Krispy Kreme went public again after being owned by JAB since 2016.

While Panera prepares to file its paperwork with the Securities and Exchange Commission, a number of other restaurant companies have also opted to join the public markets this year, including First Watch Restaurant Group and coffee chain Dutch Bros.

ShareTweetPin

Related Posts

New York identifies ‘disadvantaged communities’ that will receive extra climate funding

by
March 29, 2023
0

People walk through the Brooklyn Bridge during a strike for climate on March 03, 2023 in New York City. Protesters...

Goldman Sachs picks the winners and losers in regional banks after the SVB collapse

by
March 29, 2023
0

The banking crisis continues to keep investors on edge about the health of regional banks. Now Goldman Sachs has identified...

ChatGPT and A.I. might have a future as your portfolio manager, study suggests

by
March 29, 2023
0

Lionel Bonaventure | Afp | Getty Images The proliferation of artificial intelligence programs such as ChatGPT and Alphabet's BardAI has...

We’re halfway to a tipping point for the Greenland Ice Sheet after which sea levels rise by 6 feet

by
March 29, 2023
0

An aerial view of meltwater lakes formed at the Russell Glacier front, part of the Greenland ice sheet in Kangerlussuaq,...

Elon Musk, tech leaders urge pause on ‘dangerous race’ to make A.I. as advanced as humans

by
March 29, 2023
0

Sopa Images | Lightrocket | Getty Images Elon Musk and dozens of other technology leaders have called on AI labs...

Next Post

S&P 500 hovers near record, GE jumps on break-up plan

Wholesale prices rose 8.6% year over year in October, tied for highest ever

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com