News reports indicate that Beyond Meat will be going public to raise $183.8 million, with an initial public offering (IPO) priced between $19 and $21 per share.
That would give the company a market value of approximately $1.2 billion.
Thee El Segundo, California-based company, which manufactures plant-based meat substitutes, will list on the Nasdaq Global Market with the ticker BYND.
Beyond Meat’s products are appealing at multiple national restaurant chains including T.G.I. Friday’s. They are also available at Whole Foods, Kroger and Target.
According to a news report on CNBC, “high-profile investors include Bill Gates, Leonardo DiCaprio and Tyson Foods.”
In 2019, the company reported revenue of $87.9 million and a net loss of $29.9 million.
What’s particularly attractive from a business model standpoint, according to some industry pundits, is that nearly 40 percent of Americans are trying to eat more plant-based foods, according — this according to a Nielsen Homescan survey.
