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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 underwritten public offering of 1,500,000 shares 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 225,000 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.
BofA Securities and William Blair & Company, L.L.C. are acting as the joint lead book-runners for the offering.
Posted In: KRT
