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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