Zevia, which makes a portfolio of zero calorie organic soft drinks, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company provides approximately 37 flavor variations across soda, energy drinks, organic tea, mixers, kids drink, and sparkling water. Each product line is sold under the Zevia brand name and uses a common set of organic ingredients.
The Encino, CA-based company was founded in 2007 and booked $118 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol ZVIA. Zevia PBC filed confidentially on April 19, 2021. Goldman Sachs, BofA Securities, Morgan Stanley, Stephens Inc., BMO Capital Markets, and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
