Last fall, Beyond Meat made history when it announced it would become the first publicly traded plant-based meat company, listed on Nasdaq under “BYND.”
Now the company expects to raise over $180 million from an initial public offering. Reuters reports:
Plant-based meat maker Beyond Meat Inc is planning to raise up to $183.8 million from an initial public offering, looking to tap into the growing popularity of veganism. The company said it expects to offer 8.75 million shares, priced between $19 and $21 per share in the IPO, its latest filing with the U.S. Securities and Exchange Commission showed.
Beyond Meat plans to use the proceeds for increased manufacturing capacity, as well as research and development.
Over the past few years, Beyond Meat has made headlines with delicious plant-based products, including the Beyond Burger, Beyond Sausage, and Beyond Chicken grilled strips. All the buzz has caught the attention of some high-profile investors, such as billionaire Bill Gates; actor and activist Leonardo DiCaprio; business experts Jack and Suzy Welch; venture capital firm Kleiner Perkins; and America’s largest meat producer, Tyson Foods.
And Beyond Meat’s products are more popular than ever. In fact, the company plans to distribute across six continents and recently launched its Beyond Burger 2.0—a reformulation of its famed patty that is already available in Canada at A&W and in the U.S. at Carl’s Jr.
Beyond Meat’s rapid growth reflects the rising demand for vegan food. According to GlobalData, there were six times as many vegans in America in 2017 as in 2014, and Allied Market Research predicts that the meat substitute market will grow 8.4 percent from 2015, potentially reaching $5.2 billion globally by 2020.
Beyond Meat’s IPO launch gives the public a unique opportunity to invest financially in a compassionate and sustainable future.
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