Karat Packaging Inc.

Karat Packaging Inc. (KRT) priced its initial public offering on Apr 16, 2021 at $16.00 per share, below its $18.00–$20.00 range, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $305.9M. Stifel was lead-left underwriter, joined by William Blair, Truist and National and others. Akerman advised the company and McGuireWoods advised the underwriters.

Karat Packaging Inc. is a specialty distributor and select manufacturer of disposable foodservice products, including food containers, bags, tableware, cups, lids, cutlery and straws. Many are environmentally friendly, such as its Karat Earth line, and it offers custom product development, printing and logistics services.

Status

IPO

Ticker

KRT

Exchange

Nasdaq Global Select

Priced

Apr 16, 2021

IPO price

$16.00

Price range

$18.00–$20.00

Market cap at IPO price

$305.9M

First filed

Sep 17, 2019

Underwriters

Stifel, William Blair, Truist, National and D.A. Davidson

Company counsel

Akerman

Underwriters' counsel

McGuireWoods

Sector

Industrials & materials

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.