(Reuters) -Black Rock Coffee Bar is targeting a valuation of up to $860.7 million in its New York initial public offering, the cafe chain said on Tuesday.
The Scottsdale, Arizona-based company is seeking up to $265 million by offering 14.7 million shares priced between $16 and $18 apiece.
While the new listings market has made a comeback after a brief pause in April, consumer-related IPOs have been a key miss, with much of the activity coming from sectors with low-tariff exposure.
Black Rock Coffee will list on the Nasdaq under the symbol “BRCB”. J.P. Morgan, Jefferies, Morgan Stanley and Baird are the lead underwriters for the offering.
(Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Vijay Kishore)
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