Money Makers Mentor

Soft Drink Producer Zevia Hopes To Put The Fizz On IPO

Zevia PBC, a company which produces soft drinks from mostly natural ingredients, went public on Thursday 22nd July. Zevia’s shares were priced at $14 on their opening day. This was the midpoint of their projected $13-$15 target range. But the company reduced the number of shares offered to 10.7 million after a projected offer of 14.3 million. The underwriters of the deal were Goldman Sachs & Co. LLC, Morgan Stanley and BofA Securities, among others. The company granted its underwriters the option to purchase another 1.6 million shares of Class A common stock at the IPO price.

Success of IPO

The company began trading on the New York Stock Exchange under the ticker “ZVIA”. Ironically, the company debuted on the same day as communications platform Zenvia “ZENV,” suggesting poss…

Leave A Reply

Your email address will not be published.