Zevia Shares Debut on New York Stock Exchange

Zevia, the Encino-based beverage company, started trading Thursday on the New York Stock Exchange under the ticker ZVIA.The plant-based drink company has grown to include 37 flavors and six product lines since its 2007 founding and is available in more than 25,000 retailers in the U.S. and Canada. Zevia products, including its natural soda line, are zero-calorie, sugar-free, gluten-free, vegan, certified Kosher and certified by the Non-GMO Project.Pricing for the initial public offering of 10.7 million shares began at $14. Zevia has also granted underwriters a 30-day option to purchase up to an additional 1.6 million shares at the initial public offering price.Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley acted as lead book-runners for the offering.Shares of Zevia (ZVIA) closed Thursday down 46 cents, or slightly more than 3 percent, at $13.54.