Sweetgreen plans to list on the NYSE on November 18, 2021 under the symbol SG. It plans to raise $300 million by offering 12.5 million shares at a price range of $23 to $25.
At the midpoint of the proposed range, Sweetgreen would command a fully diluted market value of $2.9 billion.
The joint bookrunners on the deal includes Goldman Sachs, J.P. Morgan, Allen & Company, Morgan Stanley, etc.
Business Overview
Restaurant chain Sweetgreen, founded in 2006, operates a chain of fast casual salad restaurants.
Sweetgreen’s owners states the company sells a whole lot more than just salads. In a 2018 interview with Recode, co-founder Jonathan Neman described the chain as a “food platform,” not simply a restaurant. Eventually, it hopes to build a full “food ecosystem” that can facilitate delivery, managing its supply chain, and operating its stores via its proprietary tech platforms.
Sweetgreen states that it is one of the fastest-growing restaurant companies in the US by revenue. As of September 26, 2021, the company owned and operated 140 restaurants in 13 states and Washington, DC, and it grew its restaurant presence at a 27% CAGR from 2014 to 2020.
In the prospectus, the company emphasizes its digital orders and digital-enabled delivery and pickup convenience, which are essentials in the post-pandemic era.
For its fiscal year to date through September 26, 2021,68% of its revenue came online orders made on the Sweetgreen app or third-party services such as DoorDash, Grubhub and Uber Eats.
47% of its revenue came from the Owned Digital Channels and the remaining 32% of revenue attributable to Non-Digital transactions made through the In-Store Channel.
Financial Performance
Last year, Sweetgreen lost $142 million on revenue of $220 million in 2020. The loss was more than double the $67 million it reported for 2019.
The company states that the decline in revenue is due to the impact of a decline in foot traffic, temporary restaurant closures and reduced office frequency as a result of stay-at-home orders and other restrictions due to the COVID-19 pandemic, which primarily impacted the In-Store Channel.
Click to view the prospectus
$Sweetgreen(SG.US)$

Last week, Elon Musk sold about $6.9 billion worth of $Tesla(TSLA.US)$ shares. And those sales made Tesla shares decline 15.4% in one week.
We tried to find the real reason for Musk's sales last week. However, is selling shares the best choice for him?
The answer is NO.
One of the main reasons Musk is selling shares is because he needs the cash. But he can raise cash by selling options or selling shares.
1. Selling shares isn't the best way.
If Musk sells 10% of all his shares as promised, he can raise about $914 million after tax and 176 million shares will be left. The total taxes for him are around $17 billion.
2. More cash will be received if he chooses to sell his options.
If Musk chooses to sell 3/4 of his options, he can raise $5 billion after tax and still 176 million shares left.
He chose the first way last week.
Different scenarios are shown below:
Musk replied this on Twitter.
He knew the best way but he didn't do so.
Anyway, we gotta say he is a special person indeed.

Today, Musk tweets an ancient Chinese poem--<Seven Steps Verse>.
Do you know what it means?
At first, I want to show u the translation:
<The Brothers>
They were boiling beans on a beanstalk fire;
Came a plaintive voice from the pot,
"O why, since we sprang from the selfsame root,
Should you kill me with anger hot?"
And then, I'll tell u the story：
The highly allegorical poem describes the relationship between two brothers from a royal family during China's warring Three Kingdoms period. The brothers are Cao Pi and Cao Zhi.
Cao Pi was jealous of his brother Cao Zhi's literary talent and ordered him to write a poem within seven steps, containing the meaning of brotherhood but without the word "brother", or else he would be executed.
Cao Zhi made this poem on the subject of boiling beans to express the sorrow of brotherhood, and eventually Cao Pi released him because he was ashamed of himself.
How to interpret Musk's posts？
Number 1: Musk was alluding to two rivaling dog-themed cryptocurrencies, shiba inu and dogecoin.
Number 2：<Humankind> is a game. Maybe the poem is Musk's feelings after playing the game.
Just watch the video of<Humankind>
$Tesla(TSLA.US)$

$Sunrun(RUN.US)$
Finally break 52 wall.
The Sun is going to the Moon