Once positioned at the forefront of the plant-based frozen food revolution, Tattooed Chef represents a significant case study in the volatility of SPACs and challenges of the plant-based sector. The company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Central District of California on July 2, 2023. Following financial setbacks and failure to maintain NASDAQ listing requirements, the company was delisted with ticker symbol changed from TTCF to TTCFQ, signifying its move to the Over-the-Counter (OTC) market.
Cyborg Score Rationale
The company struggled with high operational costs from vertical integration and manufacturing, with rapid expansion leading to significant cash outflows not offset by proportional revenue growth. During the bankruptcy process, the company's brands and production facilities were auctioned off, effectively signaling the end of the company as a standalone public entity and leaving little to no value for equity holders.
Top Insights
Bankruptcy status (July 2, 2023): Company filed Chapter 11 with intent to sell assets rather than reorganize, now in liquidation mode
Delisting and OTC trading: Moved from NASDAQ to OTC markets (TTCFQ ticker); 'Q' designation indicates bankruptcy status
Market capitalization collapse: As of May 2026, market cap approximately $13.22M with enterprise value of $67.53M, down from public company highs
Asset liquidation: Company's brands and production facilities were auctioned off to recover funds for creditors during bankruptcy process
Named Competitors
MorningStar Farms — Plant-based meat and frozen food products
Lightlife — Plant-based and meat alternative frozen foods
Gardein — Plant-based frozen entrees and meals
Simple Mills — Plant-based and nutritious frozen/packaged foods
Recent Developments
(June 30, 2023) Filed voluntary Chapter 11 bankruptcy petition and announced asset sale pursuit under Section 363
(May 2024) Planted Ventures LLC announced US launch of Tattooed Chef brand and private label frozen products
(April 2026) Stock trading on OTC markets at minimal price ($0.0001 as of late April 2026)
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