Exchange markets across North America look to be sure of plant-based profit, and they are putting in their dollars to prove it. Eat Beyond Global Holdings is soon to be listed on the Canadian Securities exchange (CSE) and is helping companies that match its vision enjoy similar success. The company announced that its recent investment, The Very Good Food Company Inc. (VGF), completed its own IPO to what reads as a resounding win.
“We are thrilled to see The Very Good Food Company, another major plant-based IPO, mirroring the success of Beyond Meat. There is clearly extraordinary confidence in this market, and enormous demand for plant-based products,” said Patrick Morris, CEO of Eat Beyond. “We are excited to continue investing in this growing sector and continuing to be a part of more success stories like this one.”
16,100,000 common shares of the company were issued at a price of $0.25 per common share for gross proceeds of $4,025,000. Eat Beyond’s investment in VGF was at a price of $0.25 per common share, according to a press release, and the common shares were listed on the Canadian Securities Exchange on June 16, 2020.
Trading commenced at market open on June 18, 2020, with shares closing at a high of $2.00 per common share by June 22. To read further details on the move, click here.
Eat Beyond is among the first funds in Canada focused on investing in global companies working to develop and bring innovative food products to market. These, the company said, include alternatives to meat, seafood, eggs, and dairy.
Congratulations to Eat Beyond and to The Very Good Food Company on this recent success!