Karat Packaging Inc. (NASDAQ:KRT) (“Karat” or the “Company”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the pricing of its previously announced underwritten secondary offering of 1,000,000 shares of Karat’s common stock by certain members of the Company’s management team (collectively, the “Selling Stockholders”) at a price of $21.00 per share. The underwriter has been granted a 30-day option to purchase up to an additional 150,000 shares of Karat’s common stock from a Selling Stockholder. The offering is expected to close on September 12, 2023, subject to the satisfaction of customary closing conditions. The Company 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 offering.
