Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify (click the highlighted links).
Vegan burger maker Beyond Meat has priced its initial public stock offering at $25 per share, the top of its anticipated range in a reflection of brisk investor demand. At this price, the company raised around $240M at a $1.5B valuation, including underwriters' options. The company starts trading today on the Nasdaq under symbol "BYND" as consumers increasingly opt to eat less meat or turn to vegan or vegetarian foods. Beyond Meat will use the proceeds from its IPO to invest in new manufacturing facilities and R&D, stepping up competition with rival Impossible Foods.