Beyond Meat Ups IPO, Aims for $1.5 Billion Valuation
(Bloomberg) -- Beyond Meat Inc. has upped the price range and size of its initial public offering and is now seeking to raise as much as $241 million.
The maker of vegan chicken and beef substitutes plans to sell about 9.63 million shares for $23 to $25 each, according to an updated filing Tuesday with the U.S. Securities and Exchange Commission. The El Segundo, California-based company would be valued at about $1.5 billion if it sold shares at the top of that range, the filing shows.
The offering is scheduled to price after the market close on Wednesday.
Beyond Meat announced plans April 22 to raise as much as $184 million selling 8.75 million shares for $19 to $21 each. The company would have had a market value of about $1.2 billion selling shares at the top of that range.
The offering is being led by Goldman Sachs Group Inc., JPMorgan Chase & Co. and Credit Suisse Group AG. Beyond Meat, which is backed by Microsoft Corp. co-founder Bill Gates and actor Leonardo Dicaprio, has applied to list on the Nasdaq Global Market under the symbol BYND.
To contact the reporter on this story: Matthew Monks in New York at mmonks1@bloomberg.net
To contact the editor responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net
©2019 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
