Plant-based simulated meat maker Beyond Meat is planning to raise up to $183.8 million from an initial public offering, according to its most recent filing with the Securities and Exchange Commission.
The El Segundo, Calif.-based company said it expects to offer 8.75 million shares, out of its 57.4 million outstanding shares, priced between $19 and $21 a share in the IPO.
The higher end of the indicative price range gives the company a market value of $1.21 billion.
Beyond Meat filed its initial IPO prospectus with the SEC at the end of March. The company’s products, including burger patties, sausages and chicken strips, are also available in retail stores such as Whole Foods.
A perfectly cooked Beyond Burger delivered straight to your door? Dreams do come true.@TrifectaSystem https://t.co/C2CNiPzl2o
— Beyond Meat (@BeyondMeat) April 21, 2019
The company is backed by billionaire Bill Gates and Tyson Foods (TSN – Get Report) , the largest U.S. meat processor.
Restaurant chains including Burger King and A&W also recently introduced plant-based meat alternatives to their lineup of menu offerings.