The IPO contains 8,750,000 shares of common stock and the price is expected to be between US$19 and US$21 per share, before underwriting discounts and commissions. Beyond Meat has applied to list shares on the Nasdaq Global Market under the symbol ‘BYND’.
Beyond Meat expected to receive gross proceeds of approximately $175m from the offering, or $201.3m if the underwriters exercised a 30-day option to purchase up to an additional 1,312,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The company said it intended to use the gross proceeds from the offering to invest in current and additional manufacturing facilities and expand research and development and sales and marketing capabilities, as well as for working capital and general corporate purposes, and pay fees and expenses in connection with the offering.
In June, GlobalMeatNews will host The Future of Plant-based Proteins Conference in Amsterdam. Featuring presentations from the European Plant-based Food Association, The Good Food Institute and Finnebrogue, it will discuss all elements of the plant-based sector. To book your place, click here.