“Beyond Meat Inc., the maker of vegan chicken and beef substitutes backed by some of the biggest names in food and technology, is seeking to raise as much as $184 million in its initial public offering.
The company plans to sell 8.75 million shares for $19 to $21 each, according to a filing Monday with the U.S. Securities and Exchange Commission. A listing at the top of that range would give the company a market value of about $1.2 billion based on the shares to be outstanding after the offer, according to its filing.
The company is one of several makers of plant-based meat substitutes or lab-grown meats that have attracted high-profile backers. Its investors include Microsoft Corp. co-founder Bill Gates and actor Leonardo Dicaprio, as well as former McDonald’s Corp. chief executive officer Don Thompson. Beyond Meat’s biggest stakeholders are venture capital firm Kleiner Perkins Caufield & Byers LLC, which owns 16 percent of the company, and Twitter Inc. co-founder Ev William’s Obvious Ventures with 9 percent, according to its filings.
Tyson Foods Inc., the largest U.S. meat producer, is accelerating development of its own alternative-protein products and is also a backer of Beyond Meat. Tyson has invested in Jerusalem-based Future Meat Technologies and, along with Gates, Richard Branson and Cargill Inc., is an investor in Memphis Meats, a cultured meat producer.”
Read more here.
/cdn.vox-cdn.com/uploads/chorus_image/image/62931914/1.18_TERANGA_MENU_475.1548443463.jpg)
Ravi DeRossi, the restaurateur behind Death and Co, Avant Garden, Mother of Pearl and 12 other bars and restaurants around the city, is making a serious push to turn all of his operations fully animal-free. He’ll be starting by expanding the already vegan Avant Garden into multiple spinoff concepts, as well as closing the charcuterie-focused The Bourgeois Pig and reopening it as vegan wine and tapas bar LadyBird. All of his restaurants are in for some sort of shake-up, and it seems his mixologists won’t be safe either, as cocktail and beer lists will be purged of the often ignored animal ingredients that are sometimes used in drinks.
Giles Russell and Henry Roberts, owners of Two Hands, is planning to expand their coffee shop to Tribeca, but as a full-service restaurant. Two Hands, located between Little Italy and Chinatown, boasts a unique design and sense of community. Russell and Roberts built Two Hands as a beachy, bright atmosphere with a laid-back lifestyle advocating people to hang out and have a coffee without feeling any pressure. They are hoping to carry this laid-back atmosphere over to their full-service restaurant. “This will hopefully be the same, with just a few more people, and some more food and cocktails” Russell says.
paigepapers.com 