IPOS - Karat Packaging Inc. Announces Proposed Secondary Offering of Common Stock | Benzinga
CHINO, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ:KRT) ("Karat" or the "Company"), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the commencement of a proposed public offering of Karat's common stock by certain members of the Company's management team (the "Selling Stockholders"). The Selling Stockholders will also grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of Karat's common stock offered in the offering from the Selling Stockholders.
Karat is not offering any shares of its common stock in this offering and will not receive any proceeds from the sale of shares by the Selling Stockholders.
Lake Street Capital Markets, LLC is acting as sole book-running manager for the proposed offering.
The offering of these securities is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-268397), which was filed with the U.S. Securities and Exchange Commission (the "SEC") on November 15, 2022 and declared effective on November 28, 2022. The offering will be made only by means of a prospectus supplement and an accompanying ...