NEW YORK, July 30 (Reuters) - Black Rock Coffee Bar has

filed confidentially for an initial public offering in New York

that could value the cafe chain at more than $1 billion,

according to four people familiar with the matter.

The founder-owned restaurant has tapped investment banks

JPMorgan Chase ( JPM ), Jefferies Financial ( JEF ), and Morgan

Stanley ( MS ) to work on its listing, which could happen as

soon as this year, the sources said.

Confidential filings allow companies to keep financial and

strategic information private while engaging with regulators and

assessing investor appetite ahead of a formal, public launch.

The sources cautioned that the plans could change, depending

on market conditions, and spoke on condition of anonymity to

discuss private deliberations.

Black Rock Coffee, JPMorgan ( JPM ), Jefferies, and Morgan Stanley ( MS )

declined to comment.

Earlier expectations for a sharp rebound in U.S. IPOs this year

have been dampened by geopolitical tensions and economic

uncertainty, including concerns over . Still, recent signs of

market stabilization have encouraged bankers and companies to

press ahead with listings, raising hopes for an increase in IPOs

in the second half of the year.

Investor appetite for new listings, in particular for select

high-growth names, is also providing a boost. Design software

company Figma raised the indicative price range for its upcoming

IPO this week, and shares of AI cloud computing firm CoreWeave ( CRWV )

have jumped nearly 170% since their debut in March.

Smaller coffee chains with loyal customers have been taking

share from larger players such as Starbucks ( SBUX ). Another

regional chain, Scooter's Coffee, is exploring a sale that could

value it at close to $1 billion, Reuters reported this month.

Co-founders Jeff Hernandez and Daniel Brand launched Black

Rock Coffee in 2008 in Oregon. It has over 150 locations across

Arizona, California, Colorado, Idaho, Oregon, Texas, and

Washington.

The Scottsdale, Arizona-based company has drive-through

locations and sells hot and iced coffees and energy drinks.

Another drive-through coffee chain, Dutch Bros ( BROS ), went

public in 2021 at a more than $5-billion valuation.