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Impossible Foods is preparing a $10 billion IPO

Impossible Foods Inc is preparing for an initial public offering (IPO) which could value the plant-based burger maker at around $10 billion or more, according to people familiar with the matter.

Impossible foods plant-based meat (Image: Fox Business)

According to Reuters, the company is exploring going public through an IPO in the next 12 months or a merger with a so-called special purpose acquisition company (SPAC), the sources said.

A $10 billion IPO would be substantially more than the $4 billion the company was worth in a private funding round in 2020. Impossible Foods’ backers — which include venture capital investors Khosla Ventures and Horizons Ventures, and celebrities Serena Williams and Jay-Z — has raised $1.5 billion in the private market.

Impossible Foods declined comment, but the company has worked with a financial adviser to help manage discussions with SPACs after receiving offers at a lucrative valuation, the sources said. Going public through a SPAC could dilute existing Impossible Foods shareholders, however, by a greater extent than an IPO, the sources added.

With informations: Reuters

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