Once Upon a Farm, PBC has submitted a registration for an initial public offering that would comprise a total of 10,997,209 shares, with a proposed price range of $17 to $19 per share. If the shares are sold at the top of that indicated range, the offering would generate up to $209 million.
The filing specifies the structure of the sale: the company itself plans to sell 7.6 million shares, while existing shareholders intend to dispose of 3.4 million shares. Proceeds from the portion sold by current stockholders will not be paid to Once Upon a Farm; only the company will receive the proceeds from the shares it is offering.
The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol OFRM. The filing lists Goldman Sachs, J.P. Morgan, BofA Securities and William Blair as the lead underwriters handling the transaction. The company has also received approval to list its shares on the NYSE.
The registration filing provides the basic parameters for the proposed deal: total shares filed, a price band, and the allocation between primary and secondary stock being sold. The split between new shares issued by the company and existing stock sold by current investors means the capital raised for corporate use will depend on the final allocation and the pricing achieved within the stated range.
Details beyond the share counts, price range, underwriters and listing approval are not included in the information provided in the filing excerpt. The filing does make clear, however, that existing shareholders will be selling a portion of the offering and that the company will not receive proceeds from that secondary element of the sale.
Contextual note: The company is identified in the filing as an organic baby-food business. The registration documents outline the mechanics of the offering and name the financial institutions leading the underwriting syndicate. The listing approval from the NYSE is also confirmed in the filing.