Beyond Meat plans to be valued at more than $1 billion after its initial public offering.
Beyond Meat said Monday that it expects its initial public offering to price between $19 and $21 per share, giving the company a market value as high as $1.21 billion.
The company, which filed the paperwork for an IPO at the end of March, plans to use the proceeds from going public to invest in current and additional manufacturing facilities, research and development, and sales and marketing. It also plans to use the proceeds for working capital and general corporate purposes.
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Beyond Meat sets IPO terms, to raise $184 million and be valued at $1.2 billionBeyond Meat has set terms for its initial public offering, with the plant-based meat maker expected to raise up to $183.8 million and be valued at $1.21 billion. The El Segundo, Calif.-based company is offering 8.75 million shares in the IPO, which is expected to price between $19 to $21 a share. If the underwriters exercise all the options granted to cover overallotments, the company could raise up to $211.3 million. The company plans to use the proceeds from the IPO to invest in current and additional manufacturing facilities and expand research and development. Beyond Meats will have 57.43 million shares outstanding after the offering. The stock is expected to list on the Nasdaq under the ticker symbol "BYND." The company is looking to go public at a time that the Renaissance IPO ETF has run up 29% year to date and the S&P 500 has gained 16%.
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