Black Rock Coffee Bar, Inc. Class A Common Stock

Black Rock Coffee Bar, Inc. is a rapidly expanding operator of drive-thru coffee bars, primarily focused on serving premium roasted coffees, teas, smoothies, and proprietary energy drinks. Founded in 2008 and headquartered in Scottsdale, Arizona, the company has grown from a single compact drive-thru location to a recognized national brand with 158 stores across seven U.S. states as of June 2025. Distinguished by a guest-centric approach, Black Rock Coffee Bar emphasizes community connection and exceptional in-store experiences crafted by engaging baristas. It operates exclusively through company-owned locations, making it the largest fully company-owned coffee retailer in the U.S. Its business model targets high growth, with consistent same-store sales increases and a robust digital presence—including a loyalty program that has garnered over 1.8 million members, accounting for a majority of transaction volume. Black Rock Coffee Bar plays a significant role in the non-alcoholic beverages and consumer staples sector, appealing to evolving consumer trends for convenience, quality, and community-oriented service in the highly competitive coffee industry.