It’s been almost a decade since Caribou Coffee was a publicly traded company, but that will change soon.

Panera Brands, a business unit that includes Caribou and Einstein Bagels, on Tuesday morning announced that it plans to submit paperwork to go public. The news comes two months after Caribou was folded under the Panera Brands division. At the time, media outlets speculated that the move could lead to an initial public offering, or IPO, for Panera Brands.

A Tuesday press release noted that Panera Brands intends to pursue a “traditional IPO,” though the nature of the deal is a bit atypical. New York City restaurateur Danny Meyer, who launched the Shake Shack chain, will invest in Panera Brands when it goes public, according to the release. USHG Acquisition Corp., Meyer’s special purpose acquisition company (SPAC), will also invest in Panera Brands.

The release said that Meyer’s SPAC will become a “cornerstone partner” of Panera Brands. Also known as “blank-check companies,” SPACs are essentially shell companies with no assets or products. Typically, a SPAC is taken public shortly after it’s formed; then, the SPAC will acquire another private business. It’s essentially a shortcut to becoming a publicly traded company — which is often a laborious process that involves months of back-and-forth with the U.S. Securities and Exchange Commission. Interest in SPACs has exploded in 2021.

Notably, Panera Brands isn’t technically going public through Meyer’s SPAC, which began trading publicly back in February. USHG Acquisition isn’t acquiring Panera, but it appears to be offering a significant investment in the company. What’s more, as part of the deal, Meyer will also become lead independent director of Panera Brands’ board.

Meanwhile, Panera’s current owner JAB Holding Co. isn’t going away quite yet. According to The Wall Street Journal, Luxembourg-based JAB plans to stay on as a “long-term shareholder” after the IPO is wrapped up.

JAB purchased Panera in 2017 and Caribou in 2014. Both companies were publicly traded prior to the acquisition. Caribou had been traded publicly on Nasdaq since 2005.