明星股东詹妮弗·加纳光环加持 有机儿童零食制造商Once Upon a Farm(OFRM.US)美股IPO拟募资2.09亿美元

Core Viewpoint - Once Upon a Farm, co-founded by actress Jennifer Garner, plans to raise up to $209 million through an IPO, aiming to capitalize on its rapid revenue growth despite increasing losses, while the market evaluates the viability of its celebrity-endorsed business model [1]. Group 1: Company Overview - Once Upon a Farm specializes in high-end organic children's snacks, including refrigerated fruit and vegetable purees, snack bars, frozen meals, and smoothie packs [2]. - The company was founded in 2015, with co-founders Cassandra Curtis and Ari Raz focusing on organic, real ingredient recipes, and Jennifer Garner joining in 2017 [2]. - The company has faced delays in its IPO process due to the longest government shutdown in U.S. history, which hindered its progress [2]. Group 2: Financial Performance - For the nine months ending September 30, 2023, Once Upon a Farm reported revenues of $176.7 million and a net loss of $39.8 million, compared to revenues of $107.6 million and a net loss of $11.6 million in the same period of 2024 [2]. - The gross margin for the first nine months of 2025 was 40%, down from 42% in the previous year [2]. - The company's pouch products accounted for the majority of net sales, with distribution in over 2,800 retail locations including Walmart, Target, Amazon's Whole Foods, and Kroger [2]. Group 3: IPO Details - The IPO aims to use the raised funds for debt repayment, equipment purchases, and cash payments related to an endorsement agreement [3]. - Jennifer Garner, as a co-founder, has received compensation including $1 million in cash and stock options, with additional payments scheduled for 2026, 2027, and 2028 [3]. - CAVU Venture Partners is expected to become the largest shareholder with a 27.5% stake post-IPO, while S2G Investments and Cambridge Companies SPG will hold 14% and 9.3%, respectively [4]. Group 4: Market Context - The performance of consumer-facing companies in the IPO market has been relatively subdued, with total financing of approximately $15.6 billion since 2021, down from $17.4 billion in that year [3]. - Recent IPOs like Cava Group and Athleta have seen significant stock price increases, while Webtoon Entertainment has underperformed [3].