Vital Farms Announces Pricing of Initial Public Offering
Vital Farms has announced the pricing of its initial public offering (IPO) of 7,812,500 shares at $22.00 each. Trading on the Nasdaq under the ticker symbol VITL is set to commence on July 31, 2020, with the offering expected to close on August 4, 2020. The company is offering 5,040,323 shares, while the selling stockholders are offering 4,263,654 shares. An additional option for 1,395,596 shares may be exercised by underwriters within 30 days. Vital Farms is a leader in ethically produced, pasture-raised food products.
- Pricing of IPO at $22.00 per share, indicating strong market interest.
- Expected listing on Nasdaq, enhancing visibility and credibility.
- Opportunity to raise capital for future business development.
- Potential dilution of existing shareholders due to the offering.
AUSTIN, Texas, July 30, 2020 (GLOBE NEWSWIRE) -- Vital Farms, Inc. (“Vital Farms”), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, today announced the pricing of its initial public offering of 7,812,500 shares of its common stock at a price of
Vital Farms is offering 5,040,323 shares of common stock and the selling stockholders named in the prospectus are offering 4,263,654 shares of common stock. Certain of the selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,395,596 shares of common stock. Vital Farms will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman Sachs & Co. LLC, Morgan Stanley and Credit Suisse Securities (USA) LLC are acting as joint lead bookrunning managers for the offering. Jefferies, BMO Capital Markets Corp. and Stifel, Nicolaus & Company, Incorporated are acting as bookrunning managers for the offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. A copy of the registration statement may be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
About Vital Farms
Vital Farms, a Certified B Corporation, offers a range of ethically produced pasture-raised food products nationwide. Started on a single farm in Austin, Texas in 2007, Vital Farms is the leading U.S. brand of pasture-raised eggs and butter by retail dollar sales. Vital Farms’ ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. Vital Farms also prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms' pasture-raised products, including shell eggs, butter, hard-boiled eggs, ghee and liquid whole eggs, are sold in approximately 13,000 stores nationwide.
CONTACT:
Media:
Nisha Devarajan
Nisha.Devarajan@vitalfarms.com
Investors:
Ashley DeSimone
Ashley.DeSimone@icrinc.com
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