Adds debut details, company background

May 7 (Reuters) - Paine Schwartz-backed Suja Life's SUJA.O shares fell 14.3% in their Nasdaq debut on Thursday, giving the organic juice maker a valuation of $695.3 million.

The company's stock opened at $18 per share, compared with its $21 offer price. It had sold 8.9 million shares in its initial public offering, at the lower end of its marketed range of $21 to $24 apiece, raising $186.7 million.

The IPO market has opened up after a brief quiet period in March but investors remain selective about how they allocate capital.

The Oceanside, California-based company offers cold-pressed juices, wellness shots, and functional sodas. It owns a portfolio of brands including Suja Organic, Vive Organic and Slice Soda, which are made with organic, non-GMO and plant-based ingredients.