The Habit Prices Above Range, Soars in Public Debut
November 21, 2014
The Habit Restaurants priced its shares at $18, above its expected range, to raise $90 million in its initial public offering. The KarpReilly-backed fast casual restaurant (dba The Habit Burger Grill) then skyrocketed in its NASDAQ debut Thursday—opening at $30 and closing at $39.54, up 119.7%. Trading under the symbol HABT, the 45-year-old company has grown to over 100 locations in the U.S. states of California, Arizona, Utah and New Jersey. KarpReilly has backed it since 2007.