US yogurt brandChobani filed on November 17th with the SEC. It plans to list on the Nasdaq under the symbol CHO.
According to Renaissance Capital's estimation, the company could raise up to $1.5 billion. The joint bookrunners on the deal includes Goldman Sachs, BofA Securities, J.P. Morgan, Barclays,etc.
In July, the company confidentially filed for an IPO, and Reuters reported its valuation could exceed $10 billion.
Business Overview
Chobani, founded in 2005, is a leading Greek yogurt brand in the US. Since 2007, it has maintained its position as the #1 Greek yogurt brand. It also provides a portfolio of high-quality yogurt products.
Chobani's products come in single-serve, multi-serve, and/or multi-pack formats through approximately 95,000 retail locations in the US. Its key customers include Wal-Mart, Whole Foods, Amazon, Target, Kroger, Publix, Costco and Safeway/Albertsons. It also sells its products to various other national and regional retailers and has an international presence.
Chobani values innovation. Its trusted brand and expertise in the food value chain also helps it convert into new high-growth categories,including oat milk, coffee creamer, ready-to-drink coffee and plant-based probiotic beverage lines.
The U.S. oat milk market has experienced explosive growth in recent years and is the fastest growing segment within plant-based milk. In the 52 weeks ended October 16, 2021, it was a $376 million category, growing 79.6% year-over-year.
Chobani Oat entered the oat milk market in December 2019 and has grown to 15.1% of total Nielsen reported U.S. market share for the 13 weeks ended October 16, 2021, gaining share more quickly than it did in the yogurt category.
For the 13 weeks ended October 16, 2021, total Nielsen reported sales of Chobani Oat have grown 68% year-over year, ahead of the category and several incumbents.
Chobani's in-house production capabilities across its three plants with 1,900 dedicated people. It has a manufacturing facility in New Berlin, New York, a state-of-the-art multi-platform factory in Twin Falls, Idaho, and an additional facility in Melbourne, Australia.
It plans to add capacity to the Twin Falls, Idaho facility for yogurt, oat milk, creamer and coffee products due to increased demand for the products.
Financial Performance
Chobani's revenue grew 5.2% to $1.4 billion from 2019 to 2020. However, its net loss reached $58.7 million, as it invested back into its business.
For the nine months ended September 25, 2021, it generated net sales, net loss and Adjusted EBITDA of approximately $1,213.0 million, $24.0 million and $142.2 million, respectively.
It achieved year-over-year net sales growth of 13.8%, Adjusted EBITDA decrease of 6.2% and an increase in net loss of 12.1%.
Click to view the prospectus
$Chobani(CHO.US)$

Weekly market recap
Stocks are coming off a losing week after last month's consumer price index made its largest annual increase in more than three decades. The major averages snapped a five-week winning streak.
The $Dow Jones Industrial Average(.DJI.US)$ dipped 0.6% and the $S&P 500 Index(.SPX.US)$ eased 0.3% last week. The tech-focused $Nasdaq Composite Index(.IXIC.US)$ was the main underperformer, dropping 0.7% as rising bond yields dented growth pockets of the market.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
Third-quarter earnings season is entering the period when retailers dominate the daily reports. Big names will include Advance Auto Parts on Monday, followed by Walmart and Home Depot on Tuesday. Then Target, Lowe's, and TJX report on Wednesday and Alibaba Group Holding go on Thursday.
Non-retail highlights on the earnings calendar this week will include Lucid Group and Tyson Foods on Monday, Nvidia and Cisco Systems on Wednesday, and Applied Materials on Thursday.
Economic data releases this week include the Census Bureau's October retail-sales report on Tuesday and the Conference Board's Leading Economic Index for October on Thursday. Both are forecast to have climbed 0.8% from September.
Monday 11/15
$Advance Auto Parts(AAP.US)$ , $Lucid Group(LCID.US)$ , $Tyson Foods(TSN.US)$ , and $Warner Music(WMG.US)$ release quarterly results.
$Automatic Data Processing(ADP.US)$ hosts its 2021 investor day in Roseland, N.J.
Tuesday 11/16
$Walmart(WMT.US)$ reports third-quarter fiscal-2022 earnings before the opening bell. Shares of the retail behemoth have trailed the S&P 500 by 21 percentage points this year, despite Walmart raising full-year guidance.
$Home Depot(HD.US)$ and $TransDigm(TDG.US)$ report earnings.
$Cboe Global Markets(CBOE.US)$, $Enphase Energy(ENPH.US)$, $Hartford Financial Services(HIG.US)$, and $Qualcomm(QCOM.US)$ hold their annual investor days.
$Bristol-Myers Squibb(BMY.US)$ hosts an investor meeting in New York. CEO Giovanni Caforio will discuss the company's drug pipeline and strategic opportunities.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for November. Consensus estimate is for an 80 reading, even with the October figure. The index is off about 10% from its peak late last year, but home builders remain bullish on the housing market.
The Census Bureau reports on retail-sales spending for October. Expectations are for 0.8% month-over-month increase in retail sales. Excluding autos, spending is seen rising 0.9% This compares with gains of 0.7% and 0.8%, respectively, in September.
Wednesday 11/17
$Cisco(CSCO.US)$ , $Lowe's Companies(LOW.US)$ , $NVIDIA(NVDA.US)$ , $Target(TGT.US)$ , and $TJX Companies(TJX.US)$ announce quarterly results.
The Census Bureau reports new residential construction data for October. Economists forecast that privately owned housing starts will increase 2.2% to a seasonally adjusted annual rate of 1.59 million.
Thursday 11/18
$Alibaba(BABA.US)$ , $Applied Materials(AMAT.US)$ , $Intuit(INTU.US)$ , $JD.com(JD.US)$ , $Ross Stores(ROST.US)$ , and $Workday(WDAY.US)$ hold conference calls to discuss earnings.
$Cognizant(CTSH.US)$ , $Ingersoll Rand(IR.US)$ , and $Stryker Corp(SYK.US)$ host investor meetings.
$Johnson & Johnson(JNJ.US)$ holds an investor meeting to discuss its pharmaceuticals business.
Liberty Media hosts its annual investor meeting in New York. Companies presenting at the event are a mix of those owned by Liberty and those in which Liberty has a sizable stake, including the Atlanta Braves, $Charter Communications(CHTR.US)$, $Live Nation Entertainment(LYV.US)$, and $TripAdvisor(TRIP.US)$.
The Conference Board releases its Leading Economic Index for October. The consensus call is for a 0.8% monthly gain, to a 118.4 reading. The Conference Board is currently projecting a 5.7% GDP growth rate this year.
Friday 11/19
$Foot Locker(FL.US)$ reports earnings for its fiscal third quarter.
Source: CNBC, Dow Jones Newswires, jhinvestments

$CorMedix(CRMD.US)$ November 11-24th 2020 this stock went from 5.39 to 9.42. Almost an 80% increase in 10 market days.

Apparently, Trump will be joining The Ari Hoffman Show today.
Will this be sending Trump concept stocks to the moon??
$Digital World Acquisition Corp(DWAC.US)$is already up 10%, will it be going back to three digits in extended trading today?
What do you think?

$Facebook(FB.US)$ plans to change its company name next week to reflect its focus on metaverse. But why would a famous company change its name suddenly? How about replacing the CEO? $Apple(AAPL.US)$ would never change its name to Banana, right?
I guess Facebook wants to escape from its recent reputational damage. I still remember its hours-long outage, scrutiny from Congress and criticism from the public. These can't be fixed by a name change. I would definitely put my money into other mega-cap tech stocks like Apple, $Microsoft(MSFT.US)$, $Amazon(AMZN.US)$ and $Alphabet-A(GOOGL.US)$ rather than Facebook!
But anyway, how would you rename Facebook if you were Zuckerberg? Are you positive about Facebook and why?
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$Apple(AAPL.US)$ come on apple !