Jennifer Garner's Once Upon a Farm climbs in NYSE debut after $198 mln IPO

Shares of baby food brand Once Upon a Farm OFRM.N climb as much as 19% in NYSE debut on Fri after mid-range IPO

OFRM opens at $21 vs $18 IPO price. Stock trades as high as $21.41 and last up 14% at $20.52

OFRM, co-founded by actor Jennifer Garner, and some existing shareholders sold ~11 mln shares for offering size of ~$198 mln

Berkeley, California-based co's IPO, which achieved ~$724 mln valuation based on shares outstanding disclosed in the prospectus, was marketed in range of $17-$19

Cassandra Curtis and Ari Raz started OFRM in 2015. Two years later, Garner and John Foraker, former CEO of food brand Annie's, joined as co-founders

OFRM warned in its prospectus that trade barriers in Mexico and South America, from where it sources a significant share of its fruit and vegetable ingredients, could cause shortages and raise costs

Goldman Sachs and JP Morgan leading an 11-firm underwriting group for the IPO