Vital Farms, the largest US producer of pasture-raised eggs and butter, raised $205 million by offering 9.3 million shares (46% secondary) at $22, above the upwardly revised range of $19 to $21. The selling shareholders offered 1.5 million more shares than anticipated. The company originally planned to offer 7.8 million shares (35% secondary) at $15 to $17 before raising the range on Wednesday. At pricing, the company commands a fully diluted market value of $991 million.
Vital Farms plans to list on the Nasdaq under the symbol VITL. Goldman Sachs, Morgan Stanley, Credit Suisse, Jefferies, BMO Capital Markets and Stifel acted as lead managers on the deal.
