TL;DR
Freshii Inc. raised $96 million in an initial public offering, selling 10.9 million shares at $11.50 Canadian. The company plans to triple its store count by the end of 2019.
Yesterday in Toronto, Freshii Inc. raised $96 million in an initial-public offering, according to a recent Nation’s Restaurant News article . By selling 10.9 million shares at $11.50 Canadian, the company raised $125.4 million in Canadian dollars or $96 million U.S. Many are hoping this will help boost an IPO market that has been lackluster for over a year now.
“The IPO is not the finish line for us,” the chain’s founder and CEO, Matthew Corrin, told Nation’s Restaurant News. “This is just the starting line. We plan to triple our store count by the end of 2019. Freshii will continue to execute our brand mission to make healthy eating convenient and affordable to all. Our mission is our North Star.”
Freshii’s IPO breaks the drought of over 18 months without an industry IPO, with not one restaurant company going public in 2016.
In this story
This story was originally published in 1851 Franchise on February 1, 2017. Burnaze summarizes and links to the original reporting.
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