Oatly, building a plant in Fort Worth, is going public this week
An IPO for this week involves a company making a large investment in Fort Worth.
Malmo, Sweden-based Oatly Group is offering 84.4 million shares priced at $ 15-17, managed by Morgan Stanley / JP Morgan. Suggested Symbol Nasdaq Symbol OTLY. Oatly is a Swedish vegan food company known for its oat milk.
In late January, Fort Worth City Council approved an economic development agreement with Oatly Inc., which has its US headquarters in New York. to develop a 280,000 square foot manufacturing facility at 7550 Oak Grove Road in southern Fort Worth. Oatly currently has two manufacturing facilities in New Jersey and Utah.
The production facility is located at intersection 20/35, an industrial area acquired by the CIM Group in 2020. The 1.1 million square meter property consists of a cold and dry storage facility and the property at 7550 Oak Grove Road, the location of the production facility.
The economic development agreement includes five annual grants totaling $ 1.09 million. Oatly is expected to spend at least $ 36 million in total construction costs prior to December 2024. The new facility will create a minimum of 50 full-time jobs with an average annual salary of $ 1.09 million, a minimum of $ 46,325.
The following is a list of other IPOs planned for the coming week. Sources include IPO ETF manager Renaissance Capital and SEC filings.
The other IPOs for the week of May 17th
Procore Technologies – Carpinteria, Calif., 9.5 million shares priced at $ 60 to $ 65, managed by Goldman Sachs / JP Morgan. Proposed NYSE Symbol PCOR. Business: Provides cloud-based software for construction management and collaboration.
Squarespace – New York, 40.4 million shares priced at $ 68.42, managed by Goldman Sachs / JP Morgan. Suggested NYSE symbol SQSP. Companies: Provides a user-friendly platform for companies and individuals to create websites.
Transcode Therapeutics – Boston, 6.3 million shares priced at $ 4, managed by ThinkEquity. Proposed Nasdaq symbol RNAZ. Business: Preclinical biotechnology develops RNA-based targeting for cancer.
ZipRecruiter – Santa Monica, California, 86.6 million shares priced at $ 25.04, managed by Goldman Sachs / JP Morgan. Suggested NYSE Icon ZIP Code. Business: operates an online job market.
- The Associated Press contributed to this report.