Beyond Meat Plans to Raise Over $183 Million Through IPO

The California-based company Beyond Meat plans to raise $183.8 million through its initial public offering (IPO), and will appear on the Nasdaq as “BYND” with shares expected to go for between $19 and $21 each, according to CNBC.

Beyond Meat reported $87.9 million in revenue and a net loss of $29.9 million last year. The company will reportedly use much of the proceeds from going public to beef up (metaphorically) manufacturing facilities, sales and marketing departments, and research and development efforts, according to the article.

For those paying attention, the demand for meatless options continues to heat up. T.G.I. Friday’s has recently added Beyond Meat to its menu, and Whole Foods, Kroger and Target carry the option as well. Last week, QDOBA announced the nationwide menu addition of Impossible, and other chains continue testing plant-based protein options themselves. CNBC notes that nearly 40% of Americans report trying to eat more plant-based options, so this trend seems to have staying power.

Read the full CNBC writeup here.