Beyond Meat, which makes plant-based meat products for groceries and restaurants, announced terms for its IPO on Monday.
The El Segundo, CA-based company plans to raise $175 million by offering 8.8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Beyond Meat would command a fully diluted market value of $1.2 billion.
Beyond Meat was founded in 2009 and booked $88 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol BYND. Goldman Sachs, J.P. Morgan and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of April 29, 2019.
