Topic: How To Invest

Q: Hello, Pat. May I get your comments/thoughts on Tattooed Chef (TTCF)? Thank you.

Article Excerpt

A: Tattooed Chef Inc., $12.84, symbol TTCF on Nasdaq (Shares outstanding: 82.0 million; Market cap: $971.5 million; www.tattooedchef.com), produces and sells a portfolio of frozen foods. It supplies plant-based products to retailers in the U.S. and was formerly called Ittella International. The company offers ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, cauliflower crust pizza, and plant-based burgers. Its products, both private label and under the Tattooed Chef brand, can be found in the frozen food section of retail food stores. These include Walmart, Costco, Target and Sam’s Club. In June 2020, Forum Merger II Corp., a special purpose acquisition company, or SPAC, announced that it would merge with privately held Ittella International to complete the qualifying transaction required for this type of acquisition. SPACs are a specialized kind of IPO (Initial Public Offering, or new stock issue). One key difference is that SPACs, also referred to as “blank-check companies,” raise money from investors without providing a detailed business plan. The…