NEW BERLIN, NY — Chobani requested to withdraw its registration statement with the Securities and Exchange Commission on Sept. 2.

The company initially filed the registration statement in November 2021, reportedly seeking a valuation between $7 billion and $10 billion.

“Given the current market conditions, we have decided to withdraw our S-1 registration statement currently filed with the (SEC),” said a spokesperson for Chobani. “Our focus remains on strong execution and driving profitable growth, and we continue to be excited about the future of Chobani.”

Since filing, Chobani has expanded its product line with a focus on dairy alternatives, including plant-based coffee creamers and lactose-free half and half. Chobani also lost its president and chief operating officer, Peter McGuiness, to Impossible Foods in March 2022.