Zevia PBC | Stephens

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Joint Book-Running Manager

Zevia PBC

$150 Million 07/22/2021 Food & Agribusiness Complete
Public Companies
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Transaction Details

  • On July 22, 2021, Zevia PBC (“Zevia” or “The Company”) announced the pricing of its initial public offering of 10,700,000 shares of its Class A common stock at a public offering price of $14.00 per share
    • Zevia also granted the underwriters a 30-day option to purchase up to an additional 1,605,000 shares of its Class A common stock
  • Shares of Zevia’s Class A common stock are expected to begin trading on the New York Stock Exchange on July 22, 2021, under the ticker symbol “ZVIA"
  • The Company intends to use net proceeds from the offering to purchase newly-issued Class A units of Zevia LLC, to purchase Class B units from certain of Zevia LLC’s unitholders, to cancel and cash-out outstanding options held by certain of Zevia LLC’s optionholders and to pay cash consideration to certain existing stockholder’s of the Company
    • The Company intends to cause Zevia LLC to use the net proceeds it receives to pay expenses related to this offering and the Company’s reorganization, and for working capital and general corporate purposes
  • Following the IPO, affiliates of CDP Investissements Inc. (“CDP”), Laird Norton Company, LLC, Northwood Ventures LLC and NGEN Partners will collectively own a majority stake in Zevia

About the company

Zevia PBC
Zevia PBC (NYSE: ZVIA) is a certified B Corp focused on addressing the global health challenges resulting from excess sugar consumption by offering a broad portfolio of zero sugar, zero-calorie, naturally sweetened beverages. All Zevia beverages are made with a handful of simple, plant-based ingredients, contain no artificial sweeteners, and are Non-GMO Project verified, gluten-free, Kosher, vegan, zero sodium, and free of added color. As of 2020, Zevia is distributed in more than 25,000 retail locations in the U.S. and Canada through a diverse network of major retailers in the food, drug, mass, natural, and e-commerce channels.

Sources: Company filings and press release.Sources: Company filings and press release
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  2. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:
    www.sec.gov/Archives/edgar/data/0001854139/000119312521213708/d115565ds1a.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.

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