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.
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.