Plant-based egg producer Eat Just Inc is working with an adviser to raise at least $200 million in a transaction that may value the company at $2 billion or more, Bloomberg News reported on Thursday, citing people familiar with the matter.
Terms haven’t been finalized, Bloomberg reported, citing one of the people.
“As a high-growth company focused on expanding Just Egg sales and capacity expansion needs, we are always evaluating sources of capital to achieve our mission to build a healthier, safer food system,” Andrew Noyes, a spokesman for the maker of mung bean-based egg substitute, told Reuters.
Reuters reported in August that the San Francisco-based startup aimed to turn an operating profit before the end of 2021, after which it would consider an initial public offering.
Source: Reuters.com