Beyond Meat Opens Its Very First Public Offering of Common Stock
Vegan meat-maker Beyond Meat Inc. has opened its very first shares of common stocks for public purchase. The California plant-based meat producer is looking to raise as much as $184 million from the first public offering. Learn more here.
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Beyond Meat Opens First Public Shares of Common Stock
The company said on Monday that they expect to offer 8.75 million shares in another regulatory filing, after the initial IPO filing last month. The shares are priced between $19 and $21 each, reported the CBSNews. This is the pricing before underwriting discounts and commissions, said the company in a PR.
The range, at the higher end, would fetch Beyond Meat Inc. a market value of $1.2 billion, slightly lower than what it was valued in the last private investment round, reported the New York Times. The company has applied to list itself on the Nasdaq stock exchange under the ticker symbol, “
With the revenue derived from the IPO, the plant-based meat-makers reportedly seek to enrich their presence by investing in expanding operations, investing in current and additional manufacturing facilities, research and development, as well as marketing and sales, the company stated in a press release.
About the company
Beyond Meat was launched in 2009 and since then it had functioned exceptionally well. Its famous product, the signature burger patty, is made of pea-protein and is designed to look, taste, cook and even “bleed” like a traditional beef burger patty. The same is used by other retailers as well. The company’s latest corporate tie-up is with fast-food seller Del Taco, which will offer Beyond Tacos as a vegan alternative to the traditional ones in all their 580 locations.
Beyond Meat raised $150 million from investors, including Leonardo DiCaprio and Bill Gates, among others. The “false” but truly equal meat company is a part of the growing American meat-replacement market that reportedly rose 22 percent last year. What do you think about the company’s hopes? Are they beyond expectations or absolutely justified? Let me know in the comments.