NASDAQ

Solar Foods plans to list on the Nasdaq First North Growth Market Finland.

© Solar Foods
Company News

Solar Foods to List on Nasdaq, Bolstering Growth Plans for ‘Solein’ Air-Based Protein

Air-based protein developer Solar Foods announces plans to list on the Nasdaq First North Growth Market Finland. The listing is expected to occur in September as a technical listing without any share issue or sale. Based in Helsinki, the biotech has raised €69.6 million from various investors, including Fazer, Lifeline Ventures, Agronomics, CPT Capital, Voima Ventures, and various family office investment companies. According to the company, its more than 2,000 shareholders enable it to process the technical listing. In addition to private investments, Solar Foods has strong public financial support, securing €34 million from a potential €110 million grant. And this year, the company was granted the Nasdaq Green Equity Designation, making it the first Finnish private company to receive this recognition. Nasdaq Green Equity recognizes …

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Beyond Burger 3.0

©Beyond Meat

Company News

Beyond Meat Appoints New CFO, Makes Top Leadership Changes

Beyond Meat (NASDAQ: BYND) is making significant changes to its leadership following the departure of Chief Operating Officer Douglas Ramsey on Oct. 14th, according to the company’s 8-K investor documents. Beyond is also appointing Lubi Kutua as its new Chief Financial Officer and shifting top personnel in other roles including principal accounting officer and SVP of operations.  Ramsey, who was suspended from Beyond on Sept. 20th following an altercation at a college football game, formally resigned from the company on Oct. 14th, according to documents.  In addition, current CFO and treasurer Phillip E. Hardin is exiting the company to “pursue other opportunities” reports Fortune. In a statement, Beyond shared Hardin will remain employed with the company through Oct. 28th to assist the transition, noting, “His …

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Beyond Burger 3.0

©Beyond Meat

Company News

Beyond Meat Posts Second-Largest Net Revenue in Q2, But Missed Earnings Lead to Layoffs and Cutbacks

On Thursday, plant protein leader Beyond Meat (NASDAQ: BYND) reported its 2nd quarter results for 2022, and the company’s missed earnings have led to some layoffs and lowered revenue prospects amid ongoing economic turbulence. Net revenues for Q2 in 2022 were $147.0 million, a decrease of 1.6% year-over-year. The company posted a gross profit loss of $6.2 million, or a gross margin of -4.2% of net revenues. Beyond also decreased its net revenue forecast, from the previous expectation of a 21% to 33% increase (US$560 million to $US620 million) to 1% to 12% year-on-year (US$470 million to US$520 million). According to Beyond CEO Ethan Brown, the company’s operating environment continues to be affected by multiple near-term challenges including inflation, supply chain disruptions, rising interest rates, …

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Very Good Burgers

© The Very Good Food Company
Company News

The Very Good Food Co. Appoints Food Industry Veteran Parimal Rana as New CEO

Canada’s The Very Good Food Co. (NASDAQ: VGFC) announces Matt Hall is stepping down as Interim Co-Chief Executive Officer and director, as part of the company’s succession plan. Hall, who will remain an advisor, is being replaced by Parimal Rana, an experienced food industry professional who served as Very Good’s Vice President of Operations.  According to Hall, the succession comes at the right time, following two months of dedicated work to stabilize the financially failing company.  “We’ve made notable headway in our effort to stabilize the business and it’s the right time for Parimal to assume the role of CEO,” said Hall. “Considering Parimal’s deep understanding of the plant-based food industry, his impressive operational background, and most importantly his proven leadership capability within VERY GOOD, …

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Moolec Science

©Moolec Science
Stock market

$504M Moolec to Become “World’s First” Molecular Farming FoodTech Listed on Nasdaq

Moolec Science has entered a new business agreement that will see it become the first molecular farming foodtech to be listed on Nasdaq. The foodtech ingredient pioneer is aiming to become a category creator in the alternative protein landscape and has entered a definitive business combination agreement with LightJump Acquisition Corp, a special purpose acquisition company. UK-based Moolec focuses on developing real animal proteins in plants using molecular farming; a scalable, affordable, and sustainable technology which is the production of animal proteins using plants as small factories. The transaction sets Moolec’s proforma equity value at $504 million and upon closing the combined company is expected to be listed on Nasdaq under the ticker symbol “MLEC”.  Targeting the rapidly expanding alt protein sector, Moolec claims its …

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Very Good Butchers Burger

© The Very Good Food Company
Company News

After Terminating CEO, The Very Good Food Company Embarks on New Strategy

The Very Good Food Company, the parent company of Canadian plant-based meat producer The Very Good Butchers, (NASDAQ: VGFC)  is undertaking a new profit strategy following the departures of CEO Mitchell Scott and co-founder James Davison.  In a statement, the company announced Scott was terminated while Davison resigned as Chief Research and Development Officer. The shakeup comes as Very Good faces considerable difficulty in turning a profit – the company has been unable to achieve profitability since its inception in 2016.  On April 1 the company showed a dramatic loss of CAD54.6M (US$43.6M) in fiscal year 2021. The price of its Canadian shares has also dropped 80% in the past 12 months.  A new way forward In an effort to correct course, Very Good now …

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©Allbirds
Fashion, Design & Beauty

Allbirds Files NASDAQ Listing With Plans For Huge Retail Expansion Despite Losses

Sustainable footwear brand Allbirds this Tuesday revealed it has applied to list its Class A common stock on Nasdaq under the ticker symbol BIRD. The NY Times reports that the B Corp, which was valued at around $1.7 billion in 2020, brought in about $219 million in revenue last year, Allbirds was founded in 2014 by Tim Brown and Joey Zwillinger in New Zealand, setting out as a DTC brand specialising in sustainability. In an interview from back in 2018, Zwillinger stated that an IPO was “not desirable for a variety of reasons,” and that the Allbirds had been “profitable since basically day one.”  As has been widely reported, the company has reported major financial losses and admits it will continue to be unprofitable for …

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NextMeats Japan

©NextMeats
Interviews

NEXT MEATS: “We Will Apply To Nasdaq and Aim to Be the Fastest In The World From Establishment To Becoming Listed”

Japan’s NEXT MEATS became the first publicly listed plant-based startup in the country, however, the company has lofty ambitions and states it is still far from the corporate philosophy of “saving the earth”. “We are talking with the CEO of a particular US fast-food chain for the launch” Plant-Based Japan Inc. (former freefrom Inc.), a Japanese contributor to vegconomist, interviewed Mr. Ryo Shirai, co-representative of NEXT MEATS, a meat alternative producer steadily showing the fastest growth not just within Japan but in the whole of Asia. It’s been about a year since the company was established. How is the response in Japan so far? As reported in the previous article, the major supermarket chain Ito-Yokado in Japan has also switched from the initial sales marketing …

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Toni Petersson, CEO Oatly.

Oatly CEO Toni Peterson, Image by Lars Jansson
Stock market

Oatly Commences Hotly Anticipated IPO With $10Bn Target Valuation

Oatly Group AB announces today Tues 11th May that it has commenced its IPO of 84,376,000 American Depositary Shares, each representing one ordinary share offered by Oatly and certain selling shareholders. Around 20 million of those shares were from existing investors, who include Oprah Winfrey, Natalie Portman and Jay-Z. Oatly will list its shares under “OTLY” on Nasdaq.

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MeaTech

©MeatTech
Stock market

MeaTech, The First Publicly Traded Cultured Meat Company, Announces Financial Results

The first publicly traded cultured meat company, MeaTech, which develops cell cultured meat production capabilities including its proprietary three-dimensional printing technology, biotechnology processes, and customizable manufacturing processes for slaughter-free real meat manufacturing, today announced its financial results for the year ended December 31, 2020. Its 2020 year-end cash position was $13.5 million ($8.5 million pro-forma to POM acquisition) with a further $28 million raised as part of the Nasdaq listing, bringing current cash position to $33.5 million. In addition to several funding rounds in 2020 totaling $15 million, MeaTech raised $28 million in a public offering of ADSs on the Nasdaq in March 2021. MeaTech is the first cultured meat company to be publicly traded in the US. This week, its subsidiary MeaTech Europe, has …

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MeaTech

©MeatTech
Company News

MeaTech, The First Publicly Traded Cultured Meat Company, Announces Financial Results

The first publicly traded cultured meat company, MeaTech, which develops cell cultured meat production capabilities including its proprietary three-dimensional printing technology, biotechnology processes, and customizable manufacturing processes for slaughter-free real meat manufacturing, today announced its financial results for the year ended December 31, 2020. Its 2020 year-end cash position was $13.5 million ($8.5 million pro-forma to POM acquisition) with a further $28 million raised as part of the Nasdaq listing, bringing current cash position to $33.5 million. In addition to several funding rounds in 2020 totaling $15 million, MeaTech raised $28 million in a public offering of ADSs on the Nasdaq in March 2021. MeaTech is the first cultured meat company to be publicly traded in the US. This week, its subsidiary MeaTech Europe, has …

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Stock market

MeaTech Announces $25 Million US Initial Public Offering & Approval For Nasdaq Listing

MeaTech 3D Ltd., now operating as MeaTech, a technology company focused on developing and out-licensing its proprietary 3D printing technology to manufacture proteins without the need for animal slaughter, today announced the pricing of its previously announced initial public offering of 2,427,185 American Depositary Shares (“ADSs”), each ADS representing 10 of its ordinary shares, at an initial public offering price of $10.30 per ADS, for gross proceeds of approximately $25.0 million.

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next-meats

© Next Meats Co.
Stock market

Japan: Alternative Meat Startup Next Meats Holdings Gets Listed on the American OTC Market

Japanese alternative meat company Next Meats Holdings, became listed on the American OTC Market on January 26th as NEXT MEATS HOLDINGS, INC (NXMH) after acquiring an American SPAC, paving its path into the American stock market. The rapidly growing company thus enters the US stock market with plans for worldwide expansion and NASDAQ listing in the future.

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