Sovos prices IPO, sets unicorn valuation
LOUISVILLE — Sovos Brands Inc., a formerly California-based food-brand company that recently planted its headquarters flag in Louisville, is going public with an initial stock offering that values the firm at more than $1.5 billion.
The company is seeking to raise more than $350 million and expects its IPO to be priced at $14 to $16 per share.
Proceeds will be used to repay outstanding borrowings under its credit facilities and for general corporate purposes, Sovos said in a U.S. Securities and Exchange Commission filing.
JPMorgan Chase & Co. (NYSE: JPM) and Goldman Sachs Group Inc. (NYSE:GS) are acting as joint lead book-running…
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