Yesway Files for IPO of Up to $100M

FORT WORTH, Texas — Yesway Inc. is planning an initial public offering (IPO) valued at up to $100 million.

On Sept. 21, the company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed offering of its Class A common stock.

The operator of Yesway and Allsup's branded convenience store plans to list on the Nasdaq under the ticker symbol "YSWY." The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, BMO Capital Markets and Barclays are acting as Joint Bookrunning Managers for the proposed offering.

The full S-1 is available on the SEC's website by clicking here.

Yesway is one of the fastest-growing c-store operators in the United States, with 403 company-operated stores as of June 30, which is up from 140 on Dec. 31, 2018, according to the company. Its geographic footprint includes stores located in attractive rural and suburban markets throughout the Midwest and Southwest, where it often effectively serves as the local grocer.

Additionally, its sites are differentiated through a leading foodservice offering featuring Allsup's famous deep-fried burrito and a wide variety of high-quality grocery items and private label products.

Yesway reached $1.6 billion in sales for the 12 months ended June 30, 2021. It plans to continue its successful track record of growing through acquisitions, solidifying its market position and growing its store count.

Fort Worth-based Yesway, the retail arm of BW Gas & Convenience Holdings LLC, operates c-stores throughout Iowa, Texas, New Mexico, Oklahoma, Kansas, Missouri, Nebraska, South Dakota and Wyoming.