Eat Beyond Global Holdings gains US stock listing
Eat Beyond Global Holdings received clearance from the the Depository Trust Company (DTC) to publicly list and sell its common shares on the OTCPK (over the counter) market. Unlike the NYSE and NASDAQ, OTC markets operate as de-centralized 'junior markets' for companies that are generally too small to list on the NYSE or NASDAQ, according to Investopedia.
Currently trading at around $2.72, Eat Beyond's US listing gives access to all private investors and institutions to participate in investing in the future of food, said the company.
Eat Beyond launched onto the Canadian Stock Exchange in 2020 trading under the symbol 'EATS' at a share price of CA$0.50 and is trading today at around CA$3.50 per share.
“We were seeing some great companies come out into the public sector and we’re seeing massive growth and massive interest on an investor level, but what we found is your regular investor, or what we call your retail investor, was having difficulty participating in a lot of these deals,” Eat Beyond CEO Patrick Morris previously told FoodNavigator-USA.
“We wanted to provide a platform where your average investor could go and participate in the food space and invest in the future of food.”
And the company has further growth plans in place, Eat Beyond CEO Patrick Morris.
"We anticipate doing another capital raise in the next few months to increase the size of our pool of funds, and we absolutely will be investing in more companies and expanding our portfolio," said Morris.
The Eat Beyond portfolio includes The Very Good Food Company; Eat Just, Inc.; Above Food; Nabati Foods, SingCell, TurtleTree Labs, and GoodNatured.
