Eat Beyond Portfolio Company, The Very Good Food Company (CSE: VERY) Completes Explosive IPO
Eat Beyond Global Holdings' recent investment in The Very Good Food Company, makers of The Very Good Butcher products, skyrockets over 800% following the company's IPO
Vancouver, B.C. - June 23, 2020 (Investorideas.com Newswire) Eat Beyond Global Holdings ("Eat Beyond"), soon to be listed on the Canadian Securities exchange (CSE), is pleased to announce the success of its recent investment in The Very Good Food Company Inc. (CSE: VERY) ("VGF"). Eat Beyond's investment in VGF was at a price of $0.25 per Common Share.
Eat Beyond is the first fund in Canada focused on investing in global companies that are developing and commercializing innovative food products including alternatives to meat, seafood, eggs, and dairy.
VGF completed its initial public offering including the full exercise of the over-allotment option by the agent for the Offering, Canaccord Genuity Corp., led by Portfolio Manager and Investment Advisor, Cary Pinkowski, resulting in the issuance of 16,100,000 common shares of the Company at a price of $0.25 per Common Share for gross proceeds of $4,025,000.
The Common Shares were listed on the Canadian Securities Exchange on June 16, 2020 and commenced trading at market open on June 18, 2020. By June 22, the shares closed at a high of $2.00 per common share.
"We are thrilled to see The Very Good Food Company, another major plant-based IPO, mirroring the success of Beyond Meat. There is clearly extraordinary confidence in this market, and enormous demand for plant-based products," said Patrick Morris, CEO of Eat Beyond. "We are excited to continue investing in this growing sector and continuing to be a part of more success stories like this one."
Eat Beyond was created to provide retail investors with the opportunity to participate in a broad cross-section of companies representing the growing alternative food sector.
Eat Beyond continues to actively research and meet with companies working on new groundbreaking opportunities in alternative food space.
About The Very Good Food Company
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Our mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. To date we have developed a core product line under The Very Good Butchers brand.
About Eat Beyond Global Holdings
The Eat Beyond Global Holdings ("Eat Beyond") identifies and invests in global companies that are developing and commercializing innovative food products including alternatives to meat, seafood, eggs, and dairy. Led by a team of food industry experts, Eat Beyond is the first fund of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of the alternative food sector and access to the companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
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