Freshpet Inc., a US-based maker of premium petfood for cats and dogs, raised about US$156 million in its initial public offering after its IPO was priced at US$15 per share, above the expected price range of US$12â€“$14.
The company sold 10.4 million shares. At the IPO price, the company was valued at US$477 million, based on outstanding common stock of about 31.8 million, according to reports. The company counts private equity firm MidOcean Partners LP and Tyson Foods Inc. among its investors.
Freshpet is expected to debut on the Nasdaq on Friday under the symbol "FRPT."
By Lindsay Beaton
As work continues on creating a new nutrition label that focuses on simplifying information for consumers, challenges remain.
By Tang Yu