Shares in US juices and shots firm Suja Life slid 14% on their first day of trading on the Nasdaq.
The Californian business saw its share price close at $18.05 on Thursday (7 May), below the IPO offer price.
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Suja Life’s IPO of 8.89m shares was priced at $21, the lower end of the $21 to $24 range. At that price, the IPO raised $186.7m.
At 18:06 ET today, the company’s shares stood at $17.76.
Set up in 2012, Suja Life is backed by Paine Schwartz Partners, which acquired the company in 2021. Another private-equity firm, Meaningful Partners, is a smaller shareholder. Paine Schwartz Partners will continue to “control” the business after the IPO, filings made last month said.
According to Bloomberg, citing sources familiar with the subject, Suja Life tweaked the share offering, only putting up new shares.
The Suja Organic brand owner had planned to issue just under 8.7m shares with the rest coming from Paine Schwartz Partners.
The company’s product range contains three brands: Suja Organic juices and shots, Vive Organic shots and Slice “better-for-you” sodas. Suja Life acquired Vive Organic in 2022 and Slice two years later.
Last year, Suja Life made a net loss of $23.3m, up from $20.8m in 2024. The company generated an adjusted EBITDA of $40.5m, which was down 4.1% on a year earlier. Net sales increased 26.1% to $326.6m. Some 78% of sales were generated by the Suja Organic brand.
The company’s stockists include Walmart, Kroger, Albertsons, Costco and Whole Foods Market.
In earlier filings linked to the IPO, Suja Life, citing NIQ data, said its products were available in more than 37,000 stores, with ten items sold per outlet on average.
Suja Life is finalising its financial results for the first quarter of its current fiscal year, a period that ran to 30 March. The company estimates it made a net profit of $7-8.8m, versus one of $88,000 a year earlier. According to these assessments, the business says its first-quarter net sales will be $103.8-107.1m. In the first quarter of 2025, Suja Life made net sales of $87.4m.
CEO Maria Stipp joined Suja Life in 2024 after almost three-and-a-half years as CEO of US firm Stone Brewing.
