Jennifer Garner's Once Upon a Farm opens at $21 per share in market debut, after pricing IPO at $18

Company Overview - Once Upon a Farm, co-founded by Cassandra Curtis and Ari Raz in 2015, specializes in organic cold-processed, refrigerated baby foods and kid snacks [3] - The company went public on February 6, 2026, trading under the ticker "OFRM" on the New York Stock Exchange [1] - The IPO was priced at $18 per share, raising $197.9 million and valuing the company at $724 million [2] Financial Performance - In 2024, Once Upon a Farm recorded net sales of $156.8 million, a 66% increase from the previous year [6] - Despite the sales growth, the company's losses widened from $17.6 million to $23.8 million [6] Market Trends - The company benefits from a growing consumer shift away from ultra-processed foods, particularly for children, as highlighted by movements like "Make America Healthy Again" [5] - Retailers are increasingly allocating prime shelf space to organic foods, reflecting a significant change in market dynamics compared to previous years [7] Strategic Goals - Once Upon a Farm aims to "drive systemic change in childhood nutrition" and chose to go public to further this mission rather than seeking a sale [8] - The IPO proceeds will be used to pay down debt, purchase new equipment, and fund general corporate purposes [9] Industry Context - The current market environment is seeing an increase in IPOs, driven by interest rate cuts and a backlog of companies previously deterred by market volatility [10]