June 23, 2021—Mister Car Wash Inc. has started the process to become a public corporation.
The Tuscon-based car wash chain filed paperwork to raise around $465 million dollars by selling 31.25 million shares to the public and 6.25 to corporate insiders, according to the Arizona Republic. The company plans to use that money to pay off debt and "for general corporate purposes."
Mister Car Wash claims to operate the largest chain of car wash facilities in the U.S., with 344 locations across 21 states. The company generated $175.5 million dollars in the first 2021 fiscal quarter, with $24.6 million generated in net income. Both of those numbers are up compared to the same time last year.
