Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 25, 2022

Article Excerpt

LAIRD SUPERFOOD INC., $1.37, symbol LSF on New York, is an Oregon-based consumer products company. The business makes plant-based and functional foods. Functional foods are foods aimed at offering health benefits beyond their nutritional value. Laird launched its IPO and began trading on the New York exchange on September 22, 2020. That’s when it sold 3.0 million shares at $22 a share to raise $66 million. The stock is now down 94%. The company’s largest institutional investor is Danone Manifesto Ventures—the venture capital arm of France’s Danone S.A. (symbol DANOY on the U.S. over-the-counter market—its main listing is on the Paris stock exchange). Danone has held onto 9.4% interest following the IPO. Famed surfer Laird Hamilton and fellow surfer Paul Hodgen founded Laird in 2015. The company’s plant-based products include coffee creamers branded with the Superfood Creamer label; Hydrate coconut water and beverage-enhancing supplements; roasted and instant coffees, teas, and hot chocolate. Creamers represent about 50% of sales. Laird currently has products available in over…