Funding Friday: Vail to raise $600M in private offering, Pilgrims Pride takes out $350M in credit

Welcome to Funding Friday, BizWest’s weekly roundup of companies in Northern Colorado and the Boulder Valley kicking off fundraiser

BizWest reports fundraisers by companies in Boulder, Broomfield, Larimer and Weld counties, as well as Brighton and Westminster through regulatory filings, press releases and other sources. Did we miss a company’s round? Email us at news@bizwest.com.

This week’s notable rounds:

Vail Resorts Inc. (NYSE: MTN) said it would take up to $600 million in new debt via private offerings to cover its costs while its resorts across North America remain closed due to the ongoing COVID-19 pandemic. The offering forces Vail out of being able to issue dividends until it has at least $400 million in liquid assets.

Greeley meat producer Pilgrim’s Pride Corp. (Nasdaq: PPC) disclosed it took out $350 million in its revolving credit line in March, according to earnings reports it released this week.

Boulder-based ArcherDX Inc. reported raising $1.55 million after a stock option was exercised. The oncology-focused genetics testing company has raised more than $153 million over three large rounds since the beginning of 2018.

Other rounds this week (Source: U.S. Securities and Exchange Commission):

April 30: Onward Care Inc., Boulder, $325,000 raised from three investors out of $500,000 goal

April 29: Red Mountain Scientific Inc., Fort Collins, $500,000 target reached from seven investors

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