April 9, 2021, 3:43 pm

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According to a media report, Impossible Foods should consider several options open to the public. This could lift the startup of meat alternatives to $ 10 billion.

The Impossible Foods Department should consider launching it to the public within the next twelve months. This was reported by Reuters news agency, citing unknown sources. It is currently examining whether there should be a conventional stock offering or whether the company should be brought to the exchange through a Special Purpose Acquisition (SPAC).

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It is understood that SPAC is a shell company that was specifically entered into the stock exchange in order to subsequently merge with an unlisted company. For the acquired company, it represents an alternative to the traditional initial public offering, bypassing the typically long and costly listing process on the exchange.

According to Reuters, Impossible Foods is currently examining various offers from interested fictitious companies. They reportedly gave the startup operating as a meat substitute a profitable rating. However, existing shareholders fear that their shares will be weaker through SPAC than through the traditional IPO.

According to information from Pitchbook, Impossible Foods has received $ 1.5 billion from investors so far. In addition to venture capitalists like Khosla Ventures and Horizons Ventures, investors include stars such as tennis player Serena Williams and rapper Jay-Z. The company produces meat and sausage alternatives that are sold through grocery stores and directly to restaurant chains. Competitor Beyond Meat, founded two years ago, went public in 2019.

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