Beyond Meat® Announces Launch of Initial Public Offering
22 April 2019 - 8:14PM
Beyond Meat, Inc. (“Beyond Meat”), a leader in plant-based meat,
announced today the launch of its initial public offering of
8,750,000 shares of common stock. The initial public offering price
is expected to be between $19.00 and $21.00 per share, before
underwriting discounts and commissions. In addition, the company
expects to grant the underwriters a 30-day option to purchase up to
an additional 1,312,500 shares of common stock at the initial
public offering price, less underwriting discounts and commissions.
Beyond Meat’s existing stockholders will not sell any shares in the
offering. Beyond Meat has applied to list shares on the Nasdaq
Global Market under the symbol "BYND.”
Beyond Meat expects to receive gross proceeds of approximately
$175.0 million from the offering, or $201.3 million if the
underwriters exercise their option in full, assuming the shares
price at the mid-point of the offering range. The company intends
to use the gross proceeds from the offering to invest in current
and additional manufacturing facilities and expand research and
development and sales and marketing capabilities, as well as for
working capital and general corporate purposes, and pay fees and
expenses in connection with the offering.
Goldman Sachs & Co. LLC, J.P. Morgan and Credit Suisse are
serving as lead book-running managers for the offering. BofA
Merrill Lynch and Jefferies are also acting as book-running
managers, and William Blair is acting as co-manager for the
offering.
The offering is being made only by means of a prospectus. A copy
of the preliminary prospectus may be obtained from any of the
following sources:
- Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, NY 10282, or by telephone at (866)
471-2526, or by email at prospectus-ny@ny.email.gs.com;
- J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at 866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; and
- Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, Eleven Madison Avenue, New York, NY 10010, or by
telephone at +1 (800) 221-1037, or by email at
usa.prospectus@credit-suisse.com.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers
to buy these securities be accepted prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” You can identify forward-looking
statements because they contain words such as “believes” and
“expects.” Forward-looking statements, including statements
regarding the size, timing, expected price range and proceeds of
the initial public offering, are based on Beyond Meat’s current
expectations and assumptions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that may differ materially from
those contemplated by the forward-looking statements, which are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements are set forth in Beyond Meat’s filings with the SEC,
including its registration statement on Form S-1, as amended from
time to time, including under the caption “Risk Factors.” Any
forward-looking statement in this release speaks only as of the
date of this release. Beyond Meat undertakes no obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except as may be required by any applicable securities laws.
Contact:
Investors: Katie
Turner646-277-1228Katie.turner@icrinc.com |
Media:Allison
Aronoff858-735-7344aaronoff@beyondmeat.com |
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