Suja Life shares fall 14% in trading debut after IPO
Updated
Updated · Bloomberg · May 7
Suja Life shares fall 14% in trading debut after IPO
6 articles · Updated · Bloomberg · May 7
The organic drinks maker opened at $18 in New York, below its $21 offer price, after raising $186.7 million and implying a market value of about $695 million.
The stock's weak start came hours after Suja priced nearly 8.9 million shares at the low end of its marketed range of $21 to $24.
Based in Oceanside, California, Suja makes cold-pressed juices and nutritional beverages and is majority-owned by private-equity firm Paine Schwartz Partners.
As the #1 cold-pressed juice brand, why did Suja's billion-dollar IPO price at the lowest possible end?
Suja's sales are soaring, but it's losing millions. Can going public finally make wellness profitable for investors?