Shares of Once Upon a Farm, PBC (OFRM) soared 16.67% during intraday trading on Friday, marking a strong debut for the organic children's food maker on the New York Stock Exchange.
The surge follows the company's initial public offering, which was priced at $18 per share, the midpoint of its $17 to $19 range, raising approximately $198 million. Prior to the open, indications pointed to shares trading between $21 and $22, reflecting robust investor demand and celebrity backing from co-founder Jennifer Garner.
The IPO, led by Goldman Sachs and J.P. Morgan among others, values the company at approximately $724 million based on shares outstanding. Once Upon a Farm specializes in refrigerated organic snacks and meals for children, with products available in over 3,200 retail locations including Walmart and Target, and online sales contributing 40% of revenue.
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