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2w ago

Black Rock Coffee Bar Sets IPO Terms, Targeting $860.7 Million Valuation

The drive-through chain set a $16–$18 range to fund expansion, cut debt, bolster working capital.

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Overview

  • The offering covers 14.7 million Class A shares, implying gross proceeds of roughly $235 million to $265 million.
  • Black Rock plans to list on the Nasdaq Global Market under the ticker BRCB and has a 30-day underwriter option for up to 2.2 million additional shares.
  • The SEC registration has not yet become effective, and a Nasdaq calendar pegs a potential September 12 debut that the company has not confirmed.
  • Filings show same-store sales rose 10.9% in Q2 2025, while the company posted a $1.1 million net loss for the quarter.
  • Founded in 2008, the chain operates 150-plus drive-through locations across seven states, and its prospectus flags exposure to coffee, dairy and equipment costs, including potential tariffs.