Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, November 30, 2018

Article Excerpt

BEYOND MEAT INC. plans to launch an initial public offering (IPO) on the Nasdaq exchange under the symbol BYND. It aims to raise $100 million. Beyond Meat designs its plant-based “beef,” “pork” and “chicken” to taste like real meat. This includes simulating the texture and appearance of meat. However, the products are derived from plants. The company’s flagship product is The Beyond Burger. Those patties are sold by grocers such as Kroger and Whole Foods, as well as appearing on restaurant menus for TGI Friday’s and A&W Canada. Beyond Meat also sells a range of other plant-based meat products, including Beyond Sausage and Beyond Chicken. Based in El Segundo, California, the company has several prominent venture-capital backers. They include Bill Gates, Don Thompson (McDonald’s Corp.’s former CEO), and Twitter co-founders Biz Stone and Evan Williams. Tyson Foods holds a 5% stake (symbol TSN on New York) and top Silicon Valley venture-capital firm Kleiner, Perkins, Caufield & Byers owns 16% of the company. In the…