Cava Group Inc. has set terms for its initial public offering, in which the Washington, D.C.-based Mediterranean-focused fast-casual restaurant looks to raise up to $247.4 million. The company announced that it would offer 14,44 million shares at a price of between $17 to $19 per share. The company’s expected valuation would be up to $2.12 Billion, with 111.39 Million shares remaining after the IPO. J.P. Morgan Jefferies, and Citigroup will be the main underwriters. The stock will be listed on the New York Stock Exchange with the ticker “CAVA”. The company has reported a net profit of $2.1m on revenues of $203.1m during the 16 weeks to April 16. This compares to a loss $20.0m on revenue of $159m in the same time period last year. Cava wants to go public when the Renaissance IPO exchange traded fund has risen 7.7% in the last three months and the S&P500 SPX, -0.20% is up 5.6%.