- June 26, 2021
- Posted by: Stratford Team
- Category: Business
Mister Car Wash chairman, CEO John Lai on promising ‘quality and speed’ for every customer experience and going public.
Mister Car Wash cleaned up its in initial public offering.
The nation’s largest carwash company saw its stock surge 35% to close at $20 per share after the offering priced at $15. Shares are listed on the New York Stock Exchange.
S&P POST BEST WEEK SINCE FEBRUARY
Ticker Security Last Change Change %MCW MISTER CAR WASH INC 20.90 +0.18 +0.87%
CEO John Lai tells FOX Business the proceeds from the deal will help the company shore up its balance sheet while also growing the business.
AVERAGE CAR PRICE HITS RECORD
“We are going to continue to reinvest in our infrastructure, we are going to pay down some debt, get a rock-solid balance sheet and set ourselves up for continued growth because for us this is just the beginning,” he said. The company currently has about $465 million in debt.
Mister Car Wash, headquartered in Tucson,…
