Laird Superfood Sets IPO at 2.2 Million Shares; Sees Pricing at $18-$20 Each
September 15 2020 - 7:20AM
Dow Jones News
By Colin Kellaher
Laird Superfood Inc., the maker of plant-based foods backed by
France's Danone SA, on Tuesday said it expects to sell 2.2 million
shares at between $18 and $20 apiece in its planned initial public
offering.
At the $19 midpoint of that range, the Sisters, Ore., company
said it expects net proceeds of about $37.4 million, or roughly
$43.2 million if the underwriters exercise an option to buy an
additional 330,000 shares.
Danone Manifesto Ventures, Danone's corporate venture arm,
currently holds a 13.4% stake in Laird and has the right to buy up
to $10 million in stock in a potential concurrent private placement
at the IPO price.
Laird said it has applied to list its shares on the NYSE
American under the symbol LSF.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 15, 2020 07:05 ET (11:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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