Panera面包一直说在1997年至2017年之间，它是那里最好的餐厅股票，向股东带来了比标准普尔500指数好44倍的回报。但是，在2017年，Panera突然通过与Jab Holding Company（早餐）达成了75亿美元的合同。-obsessed investment arm of Germany’s隐居亿万富翁雷曼家族。
现在，戳戳和工匠烤连锁店在说它回来了 - 第二次公开，尽管是通过另一种特殊的安排。
The arrangement involves Panera filing for an IPO—but also, in no particular order, Shake Shack founder Danny Meyer’s SPAC investing in the chain, Meyer himself throwing in an undisclosed amount of his own personal fortune, and JAB agreeing to invest additional money if investors in Meyer’s already public SPAC bail and sell shares before the Panera deal closes. Panera is still inking the details with the Securities and Exchange Commission (SEC), so it hasn’t said yet what the price range of shares will be, how many shares it plans to offer, or when the IPO will occur.
如果您在一个不称为星巴克或邓肯的美国快餐连锁店吃早餐，那么赔率很好，这是一个由jab控制的品牌。除了Panera之外，这家位于卢森堡的企业集团在驯鹿咖啡，Peet's Coffee，Einstein Bros. Bagels，Bruegger的百吉饼，Pret A Manger，Stumptown和Intelligents中拥有多数股份。为什么现在决定将Panera重新投放市场尚不清楚。但是在七月重新定居Krispy Kreme，在Jab在2016年购买后被淘汰。Jab也曾经拥有Au Bon Pain，直到它今年夏天卖了。一位发言人告诉媒体，该公司计划继续成为Panera的长期股东，而不论IPO如何。
不过，Panera交易中最不寻常的部分是迈耶（Meyer）的身边。根据解释，联合广场酒店集团首席执行官给予到华尔街日报，他的SPAC（USHG收购公司，“拥抱”下的交易）将在Panera公开时对Panera进行投资。迈耶当时还将单独投资。It’s unusual because for most SPAC deals, the blank-check company itself is the entity that goes public—it raises money from investors, lists itself on the stock exchange, then acquires a private company, taking it public afterwards through a sort of investment transitive property. Here, Meyer’s SPAC is investing capital upfront in Panera at the same time that Panera pursues its own IPO. Once the deal is complete, Meyer says he’ll join Panera’s board as lead independent director.
“这是使IPO流程民主化的好方法，”他告诉CNBC的squ今日早些时候。“当Panera拥有IPO时，我们的拥抱股东将有机会以IPO价格交换其股票，美元。”