Grove Collaborative (GROV) stock price, NYSE trading begins

One of the leading sustainable consumer products companies, Grove Collaborative, goes public today. The company is a certified B Corp, sells everything from bamboo toilet paper to compostable wet wipes, and is on a mission to transform an industry that currently relies on plastic into one that is more environmentally friendly. Today’s list comes with the help of Virgin Group. Here’s what you need to know:

  • What is Grove Collaborative? Grove Collaborative is a certified B Corp founded in 2016. Its goal is to transform the consumer products industry from one that generates a lot of harmful waste to one that cares about the environment. Grove Collaborative is one of fast business Most innovative companies for 2022 thanks to its groundbreaking eco-friendly products such as all-natural pest control sprays, a plastic-free body and hair care line, and laundry detergent in dissolvable sheets. Its products are currently available in 1,900 Target stores nationwide.
  • How does Grove Collaborative go public? Grove Collaborative does not go public through a traditional IPO. Instead, it will debut via a SPAC or Special Purpose Acquisition Company. With a SPAC, an existing front company that is already public merges with another private company, thus making it public. Grove is privately held and Virgin Group Acquisition Corp. II is the shell company already public. If the name rings a bell, it’s because Virgin Group Acquisition Corp. It is sponsored by Richard Branson’s Virgin Group.
  • What market will Grove Collaborative trade on? Grove will be listed on the New York Stock Exchange (NYSE). Trading is expected to begin today, June 17, 2022.
  • What will Grove Collaborative’s stock symbol be? Grove Collaborative will trade under the symbol “GROV”.
  • Anything else I should know about Grove Collaborative? The company previously pledged to be completely plastic-free by 2025. “Our path to profitability is clear and we will continue to drive forward our mission to transform consumer products into a positive force for human and environmental health. “said Grove CEO Stuart Landesberg via press release today. “We expect the inevitable transition from single-use plastic to only accelerate as consumers increasingly demand more sustainable options, and Grove is leading the charge.”

Karen J. Nelson