Manhattan Street Capital, best known for its Reg A+ securities offerings, is pitching shares in Impossible Foods, a competitor to Beyond Meat (NASDAQ:BYND).
As you probably know, Beyond Meat went public in mid-2019 raising about $240 million on a valuation of $1.5 billion. Shares were floated at $25/each. Today, Beyond Meat trades at a jaw-dropping price of $127 a share and a valuation of over $7 billion.
Obviously, the meat substitute sector is pretty hot and Manhattan Street Capital is offering accredited investors to purchase shares in Impossible Foods beginning at $100,000 per investor. Manhattan Street Capital speculates that in the coming months or weeks, Impossible Foods is bound to file an S-1 and kick off the process of floating shares on an exchange.
The private equity fund is seeking up to $27 million and investors are expected to hold their investment for at least two years.
If you are curious the private placement memorandum is available here.
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