Beyond Meat sets the price range on its IPO, months after its plans got derailed by market volatility

Courtesy of Beyond Meat

Beyond Meat CEO Ethan Brown.

• Beyond Meat, the vegan protein company backed by Kleiner Perkins, set a price range on Monday for its long-awaited IPO.
• Beyond Meat set a range of $19 to $21, which at the high end would valued the company at $1.2 billion.
• Beyond Meat first filed its public S-1 back in November, but postponed its public listing following major market volatility.
• Visit Business Insider's homepage for more stories.

Beyond Meat, the venture capital-backed vegetarian food company with investors including Kleiner Perkins, is moving forward with its IPO, months after its plans got derailed by market volatility.

In an updated filing on Monday, Beyond Meat set a price range of $19 to $21 for its IPO, which is expected to take place in early May. The company will list on the Nasdaq under the ticker symbol "BYND."

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

At the top of that price range, the company would go public with a valuation of $1.2 billion.

Beyond Meat first filed to go public on November 16, though it postponed its listing due to market volatility at the end of 2018. The delay was extended after the government shutdown in January closed the Security and Exchange Commission, putting all IPO activity on pause.

Though Beyond Meat is technically a food company, it has many of the markings of a tech company. For one, Ned Segal, chief financial officer at Twitter, is on its board.

Read more: McDonald's, Nvidia and Salesforce all want a bite of the Tel Aviv tech crop. Here's what you need to know about Israel's bustling M&A scene.

Its IPO will be a major exit for Silicon Valley venture capital firm Kleiner Perkins, which owns nearly 16% of the company. Beyond Meat is also backed by Obvious Ventures, as well as Tyson New Ventures, the non-vegan meat producer Tyson's VC arm.

It's also growing at high multiples. Beyond Meat generated $88 million in revenue in 2018, up 170% from $32.6 million in 2017, according to its S-1 filing.

In 2018, the company was profitable, showing $17.5 million in profit, up from losses of $2 million in 2017.