Real Good Foods IPO Not Doing Real Good

Nov. 10, 2021
Initial public offering doesn't hit target, shares now below launch price.

Real Good Foods Co. launched an initial public offering of stock that closed Nov. 9, raising approximately $68 million, below the target of $86.25 million.

A week earlier, the Cherry Hill, N.J., maker of grain-free and better-for-you frozen entrees projected the initial stock price to be $14-16 per share. Instead, the stock was priced at $12 per share when it launched on Nov. 5, and on Nov. 9 it was selling at just under $9.

Company sales were nearly $39 million in 2020 and $35.5 million in the first six months of 2021, according to the filing, but it's never made a profit. It's listed on the Nasdaq Global Market under the ticker symbol RGF.

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