GRANTS PASS, Ore. - Dutch Bros Inc. (NYSE: NYSE:BROS), a drive-thru coffee chain, has announced the pricing of a public offering of 8,000,000 shares of its Class A common stock at $29.05 per share by certain selling stockholders affiliated with TSG Consumer Partners, L.P. The offering is slated to close around March 1, 2024, pending the fulfillment of customary closing conditions.
The shares are being offered by existing stockholders, and as such, Dutch Bros will not receive any proceeds from the sale. The company will, however, incur costs associated with the transaction, excluding underwriting discounts and commissions. Morgan Stanley (NYSE:MS) is the sole underwriter for the offering.
This sale is conducted under a shelf registration statement on Form S-3 for Dutch Bros' securities, which became effective upon filing with the Securities and Exchange Commission (SEC). The offering is made through a prospectus supplement and accompanying prospectus. Potential investors are advised to read these documents, which are accessible through the SEC's website, for a more thorough understanding of Dutch Bros and this offering.
Founded in 1992, Dutch Bros has grown into a high-growth operator and franchisor of drive-thru shops, focusing on hand-crafted beverages and customer service. Beyond its espresso-based drinks, the company offers a variety of customizable cold and hot beverages.
The company's statements about the offering are forward-looking and involve risks and uncertainties, including those detailed in the SEC filings and reports. These statements are current as of the date of this press release, and Dutch Bros does not undertake any obligation to update this information.
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