Akerman is pleased to have advised Karat Packaging Inc. (NasdaqGS: KRT) in a $24.15 million public secondary sale of common stock by members of Karat's management team. Lake Street Capital Markets, LLC, also an Akerman client, acted as sole book-running manager for the offering.

Based in Chino, California, Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States.

Lake Street Capital Markets is a full-service boutique investment bank dedicated to dynamic, high-growth companies and sectors of the economy. 

"It was a pleasure to work with Karat's CEO Alan Yu and CFO Jian Guo as well as the Lake Street team on this transaction," said Mark Y. Liu of Akerman's Capital Markets group. "We believe this to be a sign of increased activity in the capital markets going into the fourth fiscal quarter of 2023 and beyond."

Capital Markets co-chair Christina Russo and Capital Markets associate Amanda Rementeria worked with Liu on this matter. 

About Akerman

Akerman LLP is a top 100 U.S. law firm recognized among the most forward-thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth.

The Akerman Corporate Practice Group advises public and private companies, including private equity funds, on M&A, capital markets transactions, financings, and other transactional matters, with a strong focus on the middle market. Akerman is top-ranked nationally for mergers, acquisitions and buyouts: middle market by The Legal 500 and is recognized as a leading U.S. law firm by U.S. News - Best Lawyers for corporate, M&A, private equity, securities/capital markets, securities regulation and banking and finance law.