Zevia PBC (ZVIA) IPO Opens 11% Lower

July 22, 2021 11:56 AM EDT

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Today's IPO for Zevia PBC (NYSE: ZVIA) opened for trading at $12.50 after pricing 10,700,000 shares of its Class A common stock at a public offering price of $14.00 per share.

Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley are acting as lead book-running managers for the proposed offering. Stephens Inc., BMO Capital Markets and Wells Fargo Securities are acting as joint book-running managers. Telsey Advisory Group, Loop Capital Markets, Academy Securities, AmeriVet Securities and Ramirez & Co., Inc. are acting as co-managers.

Zevia PBC, a Public Benefit Corporation, 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 ecommerce channels.

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Goldman Sachs, Morgan Stanley, BMO Capital, Stephens Inc., Wells Fargo, IPO