Danny Meyer remains Executive Chairman; Chip Wade, current President and COO of USHG, becomes CEO effective September 6, 2022 NEW YORK, Aug. 1, 2022 /PRNewswire/ -- Union Square Hospitality Group (USHG) today announced that, effective September 6, 2022, Chip Wade, current President & COO of USHG, will become Chief Executive Officer, and will join the USHG Board of Directors. Danny Meyer, Founder and current Chief Executive Officer, will continue as Executive Chairman of USHG. Chip Wade joined USHG as President and COO in May of 2019. Since then, Chip and Danny have established and begun implementing a long-term growth plan for the company, including the assembly of an industry-leading senio

Panera Will Continue to Prepare for and Explore an IPO, as Market Conditions Improve Panera Brands Inc., which includes the iconic fast casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Bagels, today announced that there will be no extension of its investment agreement with USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), in light of unfavorable capital market conditions, including the deterioration of the market for initial public offerings over the past several months. While the parties have collaborated closely since the initial announcement of the transaction, they have agreed not to extend the agreement, which lapsed on June 30, 2022. Panera Brands wi

Danny Meyer and USHG Acquisition Corp. to Resume Active Search for Category-leading Business that Embraces Enlightened Hospitality USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), a company sponsored by an affiliate of Union Square Hospitality Group, LLC, a leading hospitality business, and Panera Brands Inc. ("Panera") announced today that, due to deteriorating capital market conditions, the parties have decided not to extend their previously announced agreement through which HUGS would have participated alongside the Panera Brands' initial public offering. Danny Meyer, Chairman of HUGS and founder of Union Square Hospitality Group said, "Based on current capital market conditions, it is unl

Panera Brands will pursue a traditional IPO with Mr. Meyer and USHG Acquisition Corp. as key partners Mr. Meyer to become Lead Independent Director of Panera Brands Board Panera Brands, which includes the iconic fast casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Bagels, and USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), a company sponsored by an affiliate of Union Square Hospitality Group, LLC, one of the world's leading hospitality businesses, announced today that they have signed an agreement through which HUGS will become a cornerstone partner with Panera Brands (the "Transaction"). Danny Meyer will also invest directly in Panera Brands at the tim

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USHG Acquisition Corp (NYSE:HUGS) has appointed Chip Wade, current President & Chief Operation Officer (COO), as its Chief Executive Officer, effective September 6, 2022. Wade will also join the Board of Directors. Danny Meyer, Founder and current CEO, will continue as Executive Chairman of USHG. Wade, who joined USHG as President and COO in May of 2019, has about thirty years of experience in the hospitality industry. Chip earned his culinary degree from Johnson & Wales University, his B.S. from Widener University, and his M.B.A. from The University of Texas at Dallas. Price Action: HUGS shares are trading flat at $9.83 on the last check Monday.

Danny Meyer and USHG Acquisition Corp. to Resume Active Search for Category-leading Business that Embraces Enlightened Hospitality USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), a company sponsored by an affiliate of Union Square Hospitality Group, LLC, a leading hospitality business, and Panera Brands Inc. ("Panera") announced today that, due to deteriorating capital market conditions, the parties have decided not to extend their previously announced agreement through which HUGS would have participated alongside the Panera Brands' initial public offering. Danny Meyer, Chairman of HUGS and founder of Union Square Hospitality Group said, "Based on current capital market conditions, it is unli

Two large restaurant companies have filed trademarks for their respective names and brands inside the metaverse. The filings could be ways to protect their intellectual property from being used by others, or it could signal a further push into the metaverse. Here are the details. McDonald's: Fast food giant McDonald’s Corp (NYSE:MCD) filed trademarks for its McDonald’s and the McCafe brands according to trademark lawyer Josh Gerben of Gerben Law. McDonald’s filing includes the potential for virtual food and beverage products, downloadable multimedia files including non-fungible tokens and hosting entertainment services online such as virtual concerts. Perhaps the biggest portion of the fi

One of the biggest words for investors in 2021 was SPACs. While special purpose acquisition companies have been around for years, 2021 became the year that they took over the market in terms of IPOs and as a topic of conversation. There were over 600 new SPACs that went public in 2021 and over 150 deals that were announced last year. Here’s a look at what could be ahead for SPACs in 2022 from two well respected names in the SPAC coverage sector. The SPAC Experts: Benzinga talked 2021 SPAC deals and news items with Julian Klymochko, founder and CEO of Accelerate, and Nick Gershenhorn from SpacTrack.IO, a leading SPAC data and insights website. SPAC Offerings: Despite over 600 new SPAC offe

The IPO market saw record listings and capital raised in 2021. Several well-known big name companies joined the public markets in 2021, while other private companies delayed their listings or chose to raise private capital instead. Several carryovers from 2021 could go public in 2022m along with some new rumored companies.  Here is a look at seven companies that could be among the biggest IPOs in 2022 if they materialize.  Reddit: One of the most highly anticipated IPOs of 2022 will likely be Reddit, which recently filed confidential paperwork to go public. The company, which is home to the popular WallStreetBets subreddit, saw an increase in users and usage in 2021. Reddit reported 366 m

The restaurant sector was hit hard by the COVID-19 pandemic, with many companies that relied on dine-in guests seeing significant revenue declines. Companies that had strong drive-thru sales and third-party delivery services saw strength in different times of the pandemic. Recent Deals, IPOs: Activity in restaurant stocks has also picked up on the public markets with several IPOs and deals announced. On Monday, Jack in the Box Inc (NASDAQ:JACK) announced it was acquiring Del Taco Restaurants (NASDAQ:TACO) for $575 million. The deal will give the combined company over 2,800 locations in 25 states. Del Taco is the second-largest Mexican QSR chain by units, with over 600 locations in 16 stat