Shares of ethical food company Vital Farms Inc. soared 63% in their trading debut Friday, after the company’s initial public offering priced at $22 a share, above its proposed price range of…
$19 to $21.
Vital Farms (VITL), the biggest U.S. producer of pasture-raised eggs, sold 9.3 million shares to raise $204.6 million.
Goldman Sachs, Morgan Stanley, Credit Suisse and Jefferies were underwriters on the deal.
The stock is trading on Nasdaq, under the ticker “VITL.”
“We have developed a framework that challenges the norms of the incumbent food model and allows us to bring high-quality products from our network of small family farms to a national audience,” the company says in its prospectus.
“This framework has enabled us to become…
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