First Watch announces secondary offering of 3,500,000 shares by selling shareholders

First Watch Restaurant Group, Inc.

Selling shareholders agreed to sell 3,500,000 shares at $15.47 per share to underwriter Jefferies LLC on May 15, 2023.
Underwriter exercised a 30-day option to purchase an additional 525,000 shares on May 16, 2023.
First Watch did not sell any shares and will not receive any proceeds from the offering.
The offering closed on May 18, 2023, under a prospectus supplement dated May 15, 2023.
Underwriting agreement filed as Exhibit 1.1 includes customary representations, warranties, and indemnification.

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