The Coronavirus pandemic has crippled entire economies as companies face major losses in business. Many businesses have laid off numerous employees or have shut down causing absolute havoc.
Thousands and millions of jobs have been lost worldwide including in the United States of America. In the midst of all this gloom and hopelessness, some businesses still seem to be thriving.
Quite a few companies have issued Initial Public Offerings over the past few months raising quite a bit of money. One of those companies is Laird Superfood which manufactures healthy food and beverage.
Laird Superfood has announced that it is planning on an initial public offering of a whopping 2.2 million shares. These shares have quite the rate, of at least 18 to 20 dollars per share.
If the total amount of dollars is calculated, it gives the figure of about 39.6 million dollars to 44 million dollars in total. DANOY or Danone Manifesto Ventures is one of the major shareholders of Laird Superfood.
DANOY has been given the right to buy 10 million dollar worth of common shares of Laird Superfood. The company can buy these shares at the Initial public offering price because this is a private placement by Laird Superfood.
Laird Superfood also announced that it will issue IPOs in the New York Stock Exchange with the sticker “LSF”. The underwriters of this IPO will be Roth Capital Partners, Craig Hallum Capital Group, and Canaccord.
If Laird Superfood’s prospectus is read, it will show its goals to produce great quality healthy food made from plants. They aim at making their plant-based products healthy and affordable for everyone.
Laird Superfood’s products include some delicious items such as teas, coffees, and hot chocolate. They also manufacture beverage enhancing supplements and Hydration products.
One of their well-known product is the Superfood Creamer coffee creamers. Laird claims that there is a multibillion-dollar market opportunity in the product lines that their company has and they aim to avail it.
Hence, the company is working on going all-in with an aggressive strategy to increase its revenues and earnings. Laird Superfood does not plan on sticking to their current products rather they wish to expand it while staying within the plant-based ingredient criteria.