AUSTIN, Texas, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vital Farms, Inc. (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, today announced the pricing of an underwritten public offering of 5,000,000 shares of common stock at a price of $30.25 per share. The closing price of the Company's common stock on November 11, 2020 was $30.25 per share. The shares are being offered by certain stockholders of Vital Farms (the “Selling Stockholders”). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
The offering is expected to close on November 16, 2020, subject to the satisfaction of customary closing conditions. Vital Farms will not receive any proceeds from the sale of shares by the Selling Stockholders.
Goldman Sachs & Co. LLC, Morgan Stanley, Credit Suisse Securities (USA) LLC and Jefferies are acting as joint lead bookrunning managers for the offering. BMO Capital Markets Corp. and Stifel, Nicolaus & Company, Incorporated are acting as bookrunning managers for the offering.
A registration statement on Form S-1 relating to these securities has been declared effective by the Securities and Exchange Commission. A copy of the registration statement may be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Vital Farms
Vital Farms, a Certified B Corporation, offers a range of ethically produced pasture-raised foods nationwide. Started on a single farm in Austin, Texas, in 2007, Vital Farms is the leading U.S. brand of pasture-raised eggs and butter by retail dollar sales. Vital Farms' ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. In addition, as a Delaware Public Benefit Corporation, Vital Farms also prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms' pasture-raised products, including shell eggs, butter, hard-boiled eggs, ghee, egg bites and liquid whole eggs, are sold in more than 16,000 stores nationwide.
