Company: FWRG
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001628280-25-050306
Chunk: 2

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 2
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 the registration statement of which this prospectus supplement and the accompanying prospectus are a part. The registration statement, including the exhibits and documents incorporated or deemed incorporated by reference in this prospectus supplement and the accompanying prospectus, can be read on the SEC website mentioned under the heading “Where You Can Find More Information; Incorporation of Certain Documents by Reference.”

Unless the context requires otherwise, references to “our company,” “the Company,” “we,” “us,” “our” and “First Watch” refer to First Watch Restaurant Group, Inc. and its direct and indirect subsidiaries on a consolidated basis.

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### PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights information appearing elsewhere in this prospectus supplement or documents incorporated by reference herein. This summary is not complete and does not contain all of the information that you should consider before making a decision to participate in the offering. You should carefully read the entire prospectus supplement and the accompanying prospectus, including the information presented under “Risk Factors” and the information that is incorporated in this prospectus supplement and the accompanying prospectus by reference to the Annual Report and the Quarterly Reports referred to below (including, without limitation, matters discussed therein under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in our financial statements and related notes) before making an investment decision.

#### Business Description
First Watch is an award-winning Daytime Dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. A recipient of hundreds of local “Best Breakfast” and “Best Brunch” accolades, First Watch’s award winning chef-driven menu includes elevated executions of classic favorites for breakfast, brunch and lunch. For three consecutive years, First Watch was named a Top 100 Most Loved Workplace® by Newsweek and the Best Practice Institute, including being named the #1 Most Loved Workplace in 2024. On October 1, 2021, the Company’s common stock began trading on Nasdaq under the ticker symbol “FWRG.”

#### Our Sponsor
Advent International, L.P. (“Advent”) is one of the largest and most experienced global private equity investors. Since its founding in 1984, Advent has invested in over 430 private equity transactions across 44 countries. Advent has established a globally integrated team of over 320 private equity investment professionals across North America, Europe, Latin America and Asia. The firm has over $100 billion in assets under management (as of