Café chain Black Rock Coffee Bar plans to go public with an IPO in New York, aiming for a valuation of up to $860.7m. The chain aims to raise $265m by offering 14.7 million shares priced between $16 and $18 each, with solid growth in same-store sales.

Founded in 2008, Black Rock Coffee Bar has grown from a single stand to over 150 drive-through locations across seven US states. Known for its hot and iced coffees sourced from Ethiopia, Mexico, Colombia, and Brazil, the chain faces potential negative impacts from fluctuations in commodity prices.

Financial institutions such as JP Morgan, Morgan Stanley, and Baird are overseeing the IPO, with Stifel, William Blair, and Raymond James also involved. The chain previously expanded to Colorado and Texas, with plans for further growth and store openings in the future.

Read more at Yahoo Finance: Black Rock Coffee Bar aims for $860.7m valuation in New York IPO