The IPO window has certainly opened and M&A conditions are improving: despite higher corporate interest rates, timing is everything and the IPO window has opened. With the VIX in favorable territory, we knew it was coming. So just in the last few days, we have Panera IPO intentions, CAVA roadshow underway, and Twin Peaks working. None of these are surprises to us in the analyst community. All of the S-1s require careful study. In addition today, Flynn Restaurant Group, the largest US franchisee holding group, announced it was acquiring Pizza Hut Australia via acquisition. There are more latent IPOs pending.
Read more: FAT Brands is seeking an IPO for Twin Peaks
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