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Latham & Watkins Advises on First Watch Restaurant Group, Inc.’s Secondary Public Offering

September 15, 2022
Firm represents the underwriters in the offering by the Daytime Dining concept serving breakfast, brunch, and lunch.

First Watch Restaurant Group, Inc. (NASDAQ: FWRG), the Daytime Dining concept serving breakfast, brunch and lunch, has announced the pricing of an underwritten secondary public offering by certain stockholders of the Company (the Selling Stockholders) of 4,500,000 shares of the Company’s common stock, par value US$0.01 per share (the Common Stock), at a price to the public of US$15.50 per share. The offering is expected to close on September 19, 2022, subject to the satisfaction of customary closing conditions. The offering consists entirely of secondary shares to be sold by the Selling Stockholders. The Selling Stockholders will receive all of the proceeds from the offering. In addition, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of Common Stock at the public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP represents the underwriters in the offering with a New York team led by capital markets partners Marc Jaffe, Ian Schuman, and Peter Sluka, with associates John Slater, Giulia Franzoso, and Amy Dau. Advice was also provided on tax matters by partner Jocelyn Noll, with associate Ted Gkoo; and on benefits & compensation matters by partner Bradd Williamson, with associate Anne Bracaglia.