Beyond Meat said Monday it expects its initial public offering to price between $19 and $21 per share, giving the company a market value as high as $1.21 billion.
According to its latest filing with the Securities and Exchange Commission, the El Segundo, California-based company plans to raise $183.8 million through the IPO. Beyond, which manufactures plant-based meat substitutes, plans to list on the Nasdaq Global Market with the ticker BYND.
The company, which filed the paperwork for an IPO at the end of March, plans to use the proceeds from going public to invest in current and additional manufacturing facilities, research and development, and sales and marketing. It also plans to use the proceeds for working capital and general corporate purposes.
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