Initial public offerings or IPOs are known as a great way for investors to get great returns in a relatively short time. On average, they can bring 40% in the first 3 months. IPOs are risky and should be treated with caution, especially during a bear market. Once the initial funding stages are out of the way, IPOs can be a great way for companies to sell their shares on the open market and raise more capital to continue their growth. If you follow the plant-based food and drink businesses or maybe have even tried a burger by this company you may have wondered “is Impossible Foods publicly traded?” Read on to find out everything about the Impossible Foods stock IPO.
Impossible Foods History
Impossible Foods is an American company that makes plant-based meat, dairy and fish substitutes. Founded by Patrick O. Brown in 2011 in Redwood City, CA, their goal is to make the food industry sustainable by finding alternative ways to get food without using animals. The company claims it uses 95% less land, 74% less water and emits 87% less greenhouse gas to make its burger than a beef burger made from a cow.
The company’s main product, the Impossible Burger, was first presented in 2016. Because the production was small, the burger was only available at a handful of restaurants in New York and California. The following year, the company announced it would open its first full-size production plant in Oakland, CA and would produce 1 million pounds of non-meat burgers every month.
Soon after this the burger became available at a number of chain restaurants like Bareburger (NY), Umami Burger (CA), and Hopdoddy (TX). By July 2018 the Impossible Burger was being sold at 3 thousand locations in the US and Hong Kong, and by the end of the year the burger was on the menu of 5 thousand restaurants in all 50 states.
Nowadays, the company sells its products at over 20,000 grocery stores and 40,000 restaurants globally. In addition to its Impossible Burger made of soy,the company offers a range of other products including plant-based sausages, meatballs, chicken nuggets, and ground pork.
Impossible Foods has raised over $2 billion in funding over the years, including celebrity investors Bill Gates, Jay-Z, and Serena Williams. The latest round led by Mirae Asset Global Investments in November 2021, brought in $500 million for the company, bringing up its valuation to $7 billion. The company’s retail sales went up 85% YoY and clearly it was time to start asking, “when is Impossible Foods going public?”
Read on to find out the Impossible Foods IPO date and price, and other key info.
Impossible Foods Public Listing Key Data and IPO Date
Impossible Foods IPO Date: 2022 (TBA)
Ticker: N/A
Exchange: N/A
IPO stock price: N/A
Valuation pre-IPO: $7 billion
Market cap: N/A
CEO: Peter McGuinness
Category: Food
The first reports that an Impossible Foods IPO is being planned came in April 2021. According to anonymous sources, the company was planning to launch publicly via a traditional IPO or by merging with a special purpose acquisition company (SPAC).
Despite offers from SPAC companies valuing the company at $10 billion, the management was aware of the risks. While this makes the IPO process quicker and cheaper, a SPAC can greatly dilute the stakes of existing shareholders more than a traditional IPO.
Since the company remains private, so do a lot of the details about the upcoming IPO, including their IPO date, stock price, and stock symbol.
Impossible Foods is very likely to launch its IPO on Nasdaq because that’s the conventional thing to do for tech companies, and yes, the business defines itself as an “agrifood tech startup.” However, they may decide to launch their IPO on the NYSE instead.
There is not much information about who owns what stake in the company and their net worth. But if the Impossible Foods is to go public at a valuation of $7 billion, all the original investors will be able to cash out their fortunes.
So What About Investing Now?
While founder Pat Brown has said he wants to make Impossible Foods shares available to the general public, there is no confirmed information about their IPO filing, let alone their IPO date. The current conditions on the market could push these plans well into 2023. However, the company wants to grow and an IPO could be that step that will take the company to new heights.
On the other hand, their rival Beyond Meat that went public in 2019 has experienced the bear market like many other companies that went public in recent years, now the stock is trading at over 60% down from the initial offering price of $66, which may be a good signal for Impossible Foods to wait it out.
However, if we think long-term, this might be one of the companies to look out for as they are part of the sustainability trend that governments around the world are supporting. In 2019, UBS estimated that the sales of plant-based food would go up from under $5 billion in 2018 to $85 billion by 2030.
So the only way to invest in Impossible Foods or any other IPO is by following the news to know when it will happen as sometimes the official announcement comes just a few days before the IPO itself.
Initial public offerings are much more risky than investing in big companies with proven business models. What’s even better is to build a balanced portfolio of stocks in an industry you know or believe in. Download Gainy to check out TTF stock collections to invest in themes you believe in like e-commerce or investment strategies you’d like to try.
Check out our IPO section to look at other scheduled IPOs. If you want to find companies that match your interests, investment goals and portfolio, try Gainy for some great IPO investment ideas, as well as established blue-chip companies and a variety of other assets.
FAQ
Will there be an Impossible Foods IPO in 2022?
Because the market is in so much uncertainty, many high profile IPOs were postponed or even cancelled. We haven’t heard much information about the Impossible Foods IPO for a while, but it can still happen by the end of 2022 or in 2023. Stay tuned.
Is Impossible Foods a public company?
The Impossible Foods stock IPO date has not been confirmed yet, and they haven’t made an announcement about their IPO filing yet. As soon as the official information is released, we’ll find out everything about the date and the Impossible Foods IPO price.
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