Grain-free and better-for-you frozen meal company the Real Good Foods Co. said Thursday it plans to go public on the Nasdaq Global Market under the ticker symbol “RGF.” Founded in 2016 the Cherry Hill-based company touted its products’ wide appeal and nutritional qualities in its filing with the U.S. Securities and Exchange Commission about its plans to raise $86.25 million in its initial public offering.
The IPO price is expected to be between $14 and $16 per share. The company has applied to list its Class A common stock.
Its products are currently in 170,000 total distribution points nationwide, including Walmart, Kroger and Costco. The company generated nearly $39 million in sales in 2020, and $35.5 million in the first six months of 2021, according to the filing.
Jefferies and William Blair & Co. LLC are serving as lead book-running managers for the proposed offering. Truist Securities Inc. and Nomura Securities International Inc. are serving as book-running managers for the proposed offering.