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Vital Farms shares rise 63% in trading debut after IPO above the suggested range

Shares of the ethical food company Vital Farms Inc. VITL,
+ 68.13%
Friday rose 63% during their trading debut, after the company’s initial public offering was priced at $ 22 per share, above the suggested price range of $ 19 to $ 21. Vital Farms, the largest U.S. egg producer in the pasture, sold 9, 3 million shares to raise $ 204.6 million. Goldman Sachs, Morgan Stanley, Credit Suisse and Jefferies were underwriters on the deal. The stock is traded on Nasdaq, under the ticker “VITL”. “We have developed a framework that challenges the standards of the sedentary food model and allows us to bring high-quality products from our network of small family businesses to a national audience,” the company said in its prospectus. “This framework has enabled us to become the leading US brand of whey-raised eggs and butter and the second largest US egg brand through retail sales.”