WASHINGTON (dpa-AFX) - Suja Life, Inc. (SUJA), a California-based producer of plant-based, cold-pressed juices and functional beverages, announced Thursday that it has priced its initial public offering of 8,888,889 Class A common shares at $21.00 per share.
Shares are expected to begin trading on the Nasdaq on May 7, 2026, under the ticker symbol SUJA.
Suja Life expects net proceeds of about $173.6 million after underwriting discounts and before expenses.
The company intends to use the net proceeds to acquire newly issued LP units of Suja Life Holdings, L.P., of which it will become the sole general partner.
Holdings LP plans to use the funds to repay $141.3 million in outstanding borrowings under its credit agreement, pay about $17.5 million to certain employees and directors for incentive unit settlements and cash awards related to the offering and cover offering and organizational expenses.
The offering is expected to close on May 8.
The company has granted the underwriters a 30-day option to purchase up to an additional 1,333,333 Class A common shares at the offering price.
BofA Securities and Evercore ISI are acting as bookrunning managers for the proposed offering. Goldman Sachs & Co. LLC, Jefferies, and William Blair are acting as joint lead bookrunning managers for the offering.
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