87.5 F
San Fernando
Thursday, May 26, 2022

Zevia Shares Debut on New York Stock Exchange

Zevia, the Encino-based beverage company, started trading Thursday on the New York Stock Exchange under the ticker ZVIA.The plant-based drink company has grown to include 37 flavors and six product lines since its 2007 founding and is available in more than 25,000 retailers in the U.S. and Canada. Zevia products, including its natural soda line, are zero-calorie, sugar-free, gluten-free, vegan, certified Kosher and certified by the Non-GMO Project.Pricing for the initial public offering of 10.7 million shares began at $14. Zevia has also granted underwriters a 30-day option to purchase up to an additional 1.6 million shares at the initial public offering price.Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley acted as lead book-runners for the offering.Shares of Zevia (ZVIA) closed Thursday down 46 cents, or slightly more than 3 percent, at $13.54.

Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert is a Los Angeles-based reporter covering retail, hospitality and philanthropy for the San Fernando Valley Business Journal. In addition to her current beat, she is particularly interested in criminal justice topics, health and science stories and investigative journalism. She received her AA in Humanities from Moorpark College in 2016, her BA in Communication from Cal Lutheran University in 2019 and followed it up with a MA in Specialized Journalism from USC in the summer of 2020. Through her work, Katherine aspires to help strengthen the fragile trust between members of the media and the public.

Featured Articles

Related Articles