Summary by Moomoo AI
Artal International S.C.A., a major stockholder with a 10% stake in CAVA Group, Inc., has announced plans to sell 6,000,000 shares of common stock, valued at approximately $732 million, on 08/26/2024. The shares were originally acquired on 06/20/2023 through the conversion of Series E Preferred Stock into Common Stock directly from the issuer. This upcoming sale follows a series of transactions over the past three months, where Artal International S.C.A. sold a total of 5,550,290 shares, generating gross proceeds of nearly $484.3 million.