Salad Chain Sweetgreen Raises $364 Million in Above-Range IPO
- Shares sell for $28 apiece after being offered for $23 to $25
- Sweetgreen reaches diluted value of about $3.4 billion
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Sweetgreen Inc., the salad restaurant chain started in 2007 by Georgetown University graduates, raised $364 million in an initial public offering priced above a marketed range.
The company sold 13 million shares Wednesday for $28 each, according to a statement. It had marketed 12.5 million of the shares for $23 to $25.