Karat packaging inc. announces closing of initial public offering

Chino, calif., april 19, 2021 (globe newswire) -- karat packaging inc. (“karat packaging” or the “company”) (nasdaq: krt), a specialty distributor and manufacturer of environmentally-friendly disposable foodservice products and related items, today announced the closing of its previously announced initial public offering of 3,950,000 shares of its common stock at a price to the public of $16.00 per share. gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $63.2 million. the shares sold in the offering began trading on the nasdaq global select market under the symbol “krt” on april 15, 2021.
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