Once Upon a Farm (OFRM) Surges 17% on $198M IPO Debut

Once Upon a Farm PBC, the organic kids’ snacks maker co-founded by Jennifer Garner, surged 17% in its NYSE debut on February 6, 2026, after raising $197.9 million in an IPO. Shares closed at $21.05, reaching as high as $22, and the company’s market value reached $847 million on the number of outstanding shares. The offering of about 11 million shares (7.6 million offered by the company, 3.4 million by selling shareholders) was oversubscribed, with pricing in the $17–$19 range. The company, based in Berkeley, California, makes organic, no-sugar-added pouches of fruit and vegetable puree, bars, frozen meals, and smoothie packets. It filed in September 2024, but the protracted government shutdown led to a delay until 2026. Financials for the nine months ended September 30, 2024: net loss of $39.8 million on revenue of $176.7 million; gross margin 40% (vs. 42% in the same period of 2024). Proceeds are earmarked for debt repayment, equipment purchases, and a spokesperson agreement. The IPO was led by Goldman Sachs, JPMorgan, Bank of America, and William Blair.