(Crumbs IPO report updated with analyst commentary.)
NEW YORK ( TheStreet) -- Crumbs, the New York City-based cupcake bakery and retail chain will become a publicly traded company, according to reports.
The deal to take Crumbs public through a merger with special-purpose acquisition firm 57th Street General Acquisition values the cupcake chain at $66 million. A publicly traded Crumbs "will be a growth play" for investors, Michael A. Yoshikami, president and chief investment strategist at YCMNET Advisors, told TheStreet. He expects investor interest to be strong since Crumbs would represent one of the only ways to bet on the cupcake trend through an exchange-traded equity. Revenue is also likely to show strong growth, Yoshikami said, "but the real test will come after buzz declines," and the bakery-retailer "must be able to stand on a cash flow story."