Once Upon a Farm sets IPO target

Core Viewpoint - Once Upon a Farm plans to raise over $200 million through an initial public offering (IPO) in the US, offering approximately 11 million shares at an indicative price range of $17 to $19 per share, potentially raising $208.9 million at the top end of the range [1] Group 1: IPO Details - The IPO will consist of 7.63 million new shares issued by the company and 3.37 million shares from existing shareholders [2] - Underwriters will have a 30-day option to purchase up to an additional 1.64 million shares at the IPO price [2] - The company had previously aimed for a public listing last year but postponed due to a US government shutdown affecting SEC operations [2] Group 2: Use of Proceeds - Proceeds from the IPO will be used to repay borrowings under its credit facility, invest in new equipment, make certain payments contingent on the IPO, and fund general corporate purposes [3] Group 3: Company Background - Once Upon a Farm was founded in 2015 and expanded its leadership team in 2017 with notable figures including actor Jennifer Garner and former Annie's CEO John Foraker [3] - The company markets organic food products for children, including cold-pressed pouches, frozen meals, and oat bars, available through major retailers and direct-to-consumer channels [4] Group 4: Financial Performance - The company recorded a net loss of $17.6 million in 2023 and $23.8 million in 2024 [4] - For the six months ended June 30, 2025, the company reported a net loss of $28.5 million, compared to a $4.2 million loss in the same period the previous year [5] - Revenue increased significantly, with sales reaching $94.3 million in 2023 and $156.8 million in 2024, and net sales rose from $66.3 million in 2022 to $225.9 million in the 12 months ended September 30, 2025, reflecting a compound annual growth rate of 56.2% [5] Group 5: Market Expansion - The company is expanding internationally, with plans for a limited UK launch in March through Whole Foods Market stores in London, marking its first entry into European retail [6]