Beyond Meat's Early Backers Score $155 Million in First Sale
This article is for subscribers only.
Beyond Meat Inc.’s earliest investors Kleiner Perkins and Obvious Ventures stand to make millions of dollars as they take advantage of the alternative meat maker’s secondary offering, allowing them to sell shares months before a post-IPO selling restriction would ordinarily expire.
The company’s two largest shareholders are selling a combined 970,539 shares, according to filings. At a discounted $160 a share, the venture capital firms stand to get $155 million in gross proceeds. The transaction is expected to close on August 5.