Past Meat Inc. has filed a registration assertion with the Securities and Change Fee for a proposed preliminary public providing of its frequent inventory, reviews Bloomberg. The variety of shares to be supplied and the worth vary for the providing haven’t but been decided, however the firm filed with an preliminary providing measurement of $100 million.
Past Meat was based in El Segundo, Calif., in 2009. The corporate is greatest identified for its Past Burger, which is made to “look, prepare dinner, and style like conventional floor beef,” in response to the corporate’s submitting with the U.S. Securities and Change Fee. Past Meat’s merchandise are presently bought by Kroger, Complete Meals Market, and different grocers, in addition to on restaurant menus for TGI Friday’s and A&W Canada.
In keeping with the submitting, Past Meat’s greatest backers are enterprise capital agency Kleiner Perkins Caufield & Byers LLC, which owns a 16 % stake, and Apparent Ventures which owns 10 %. Tyson Meals Inc., the most important U.S. meat producer, additionally purchased a 5 % stake in Past Meat. Microsoft Corp. co-founder Invoice Gates and McDonald’s Corp.’s former CEO Don Thompson are additionally backers. Full Story
Associated: Past Meat Launches Plant-based Burger within the U.Ok.; Past Meat Might Be Readying IPO.