The Kleiner Perkins-backed artificial meat company Beyond Meat could be valued as high as $1.2 billion in a May IPO/
Beyond Meat, the vegan protein company backed by Kleiner Perkins, set a price range on Monday for its long-awaited IPO.
Beyond Meat first filed its public S-1 back in November, but postponed its public listing following major market volatility. Though Beyond Meat is technically a food company, it has many of the markings of a tech company. For one, Ned Segal, chief financial officer at Twitter, is on its board.McDonald's, Nvidia and Salesforce all want a bite of the Tel Aviv tech crop. Here's what you need to know about Israel's bustling M&A scene.
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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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