Once Upon a Farm, which produces organic baby food, raised $198 million by offering 11 million shares (31% secondary) at $18, the midpoint of the range of $17 to $19. At pricing, the company commands a fully diluted market value of $811 million
The company produces organic, refrigerated food products for babies and children, with a core line of cold-pressed pouches, as well as oat bars, dry snacks, and frozen meals, designed for convenient, on-the-go use. Its products are distributed both through retailers and online, with placement in over 3,200 stores and 40% of sales volume from online.
Once Upon a Farm plans to list on the NYSE under the symbol OFRM. Goldman Sachs, J.P. Morgan, BofA Securities, William Blair, Barclays, Evercore ISI, Deutsche Bank, Oppenheimer & Co., and TD Cowen acted as joint bookrunners on the deal.
