Cava is expected to launch its IPO this week, marking just the 10th company to go public in 2023 while potentially giving a boost to other restaurant stocks. 

Under the ticker CAVA listed on the New York Stock Exchange, the Mediterranean fast-casual restaurant chain will offer potential investors over 14 million shares between $17 and $19, with an expectation of raising between $245.6 million to $274.4 million. The listing is expected to price Wednesday, with trading to commence on Thursday, according to Access IPO. 

BUD LIGHT: WHAT'S NEXT? FORMER ANHEUSER-BUSCH EXEC WEIGHS IN

Using the proceeds, Cava said, in an SEC filing, it will likely open new restaurants, while using any remaining funds on general corporate purposes like loan repayments used to finance its second production facility in Verona, Virginia, which broke ground in 2022. 

BEN & JERRY'S ENDS TWITTER ADS, SAYS PLATFORM 'DANGEROUS' UNDER ELON MUSK

As of April 16, there are 263 Cava restaurants, and throughout the rest of 2023, the restaurant plans to open 34 to 44 new Cava locations, totaling 1,000 locations around the U.S. by 2032.

In an interview with FOX Business, Edward Moya, a senior market analyst from OANDA in New York, said "Cava’s IPO might not just give restaurant stocks a boost up, but also some hope to a nonexistent IPO market."

"The macro backdrop might not be as bad as feared if we see more offerings occur," he added." After the initial offering, there will be an additional 111.4 million outstanding shares, bringing the high-end valuation to what Cava believes is a $2.1 billion business."

TACO BELL BRINGS BACK FAN FAVORITE ITEM FOR A LIMITED TIME

"The IPO market has faltered since the central banks began raising interest rates higher, leading many to fear an IPO bubble burst," Moya finished. 

Data compiled by S&P Global Market Intelligence shows there were just 1,671 IPOs launched around the world last year, totaling $179.73 billion, while in 2021, 3,260 IPOs were launched equaling $626.56 billion.

GET FOX BUSINESS ON THE GO BY CLICKING HERE