Joining the cohort of IPO debutants this year like Lyft (LYFT) and Uber, plant-based manufacturer of meat substitutes, Beyond Meat, has priced its initial public offering at $25 per share targeting the top end of the company’s expected range of between $23 to $25 a share. The company also confirmed an offer of 9.625 million in common shares.
At the said IPO price, Beyond holds an implied market valuation of $1.46 billion.
In a previous filing with SEC, Beyond said that it expects to raise $183.8 million through its IPO, the proceeds of which will go towards investments in manufacturing facilities, research and development, and sales and marketing.
Last year, the company clocked in a revenue of $87.9 million along with a net loss of $29.9 million.
Other companies underwriting their IPO this year include Goldman Sachs (GS), JPMorgan (JPM), Credit Suisse (CS), Merrill Lynch (MERI), Pierce, Fenner & Smith, Jefferies and William Blair.