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Boston-based catering software company Toast to start trading on NYSE
Boston-based catering software company Toast Inc. is expected to start trading on the New York Stock Exchange on Wednesday with an initial public offering of $ 40 per share. Company executives rang the opening bell at 9:30 am Toast’s products include digital ordering tools for take-out and restaurant customers, marketing tools and payment processing equipment. a leading platform serving the restaurant industry, as of June 30, 2021, the locations on our platform represented only about 6% of the approximately 860,000 restaurant locations in the United States, ”said writes the company in a prospectus. Documents filed with the SEC show that the company’s customer base has grown significantly over the past two years, despite the pandemic, from 19,891 restaurant locations on June 30, 2019 to 47,942 locations on June 30, 2021. Our company, the COVID-19 pandemic has also increased restaurant attention to the need for a digital technology platform that can meet the need for safe, frictionless and contactless experiences in restaurants and respond to meals. off-site, ”company officials wrote. . “While we believe these trends may have a positive impact on our business in the long term, we cannot predict to what extent the increased focus on the need for digital solutions such as those offered by our platform will persist. ”
Boston-based catering software company Toast Inc. is expected to start trading on the New York Stock Exchange on Wednesday with an initial public offering of $ 40 per share.
Business leaders rang the opening bell at 9:30 a.m.
Toast’s products include digital ordering tools for take-out and restaurant customers, marketing tools and payment processing equipment.
“We believe we are in the early stages of seizing our addressable market opportunity. Although we are a leading platform serving the restaurant industry, as of June 30, 2021, the locations on our platform represented only about 6% of the approximately 860,000 restaurant locations. in the United States, ”the company wrote in a prospectus.
Documents filed with the SEC show that the company’s customer base has grown significantly over the past two years, despite the pandemic, from 19,891 restaurants on June 30, 2019 to 47,942 locations on June 30, 2021.
“While negatively affecting the restaurant industry and our business, the COVID-19 pandemic has also increased restaurants’ attention to the need for a digital technology platform that can meet the need for safe experiences. , frictionless and contactless in restaurants and address – dine on site, ”company officials wrote. “While we believe these trends may have a positive impact on our business in the long term, we cannot predict to what extent the increased focus on the need for digital solutions such as those offered by our platform will persist. “
