Beyond Meat® Launches Official Public Offering
- by Kayla Webb
LOS ANGELES, CA - While Beyond Meat® has been teasing a public offering since last year, the meat alternative company officially (alternatively: finally!) took the plunge this week. Bright and early Monday morning, Beyond Meat announced it had officially launched its initial public offering of 8,750,000 shares of common stock, which it has applied to list on the Nasdaq Global Market under the symbol “BYND.”
According to a press release, the initial public offering price is expected to be between $19.00 and $21.00 per share. Beyond Meat’s existing stockholders will not sell any shares in the offering.
Goldman Sachs & Co., J.P. Morgan, and Credit Suisse all served as lead book-running managers for the offering. BofA Merrill Lynch and Jefferies also acted as book-running managers. William Blair is co-manager for the offering.
This marks Beyond Meat’s first foray into the public arena, after first announcing plans last October and filing for a registration statement with the Securities and Exchange Commission shortly thereafter.
What does this mean for the plant-based protein market? Will a public offering make Beyond Meat a more enticing partner for McDonald’s? AndNowUKnow will continue to keep our eye on all vegan-related news as it relates to fresh produce.