Dutch Bros Inc. Announces Pricing of $300 Million Offering of Class A Common Stock
07 Setembro 2023 - 11:59PM
Business Wire
Dutch Bros Inc. (NYSE: BROS; “Dutch Bros”) today announced the
pricing of an underwritten offering of 11,538,461 shares of its
Class A Common Stock at a price to the public of $26.00 per share.
The gross proceeds from this offering are expected to be
approximately $300 million, before deducting underwriting discounts
and commissions and other offering expenses payable by Dutch Bros,
and assuming no exercise of the underwriters’ option to purchase
additional shares. The offering is expected to close on or about
September 12, 2023, subject to the satisfaction of customary
closing conditions. All of the shares of Class A Common Stock are
being offered by Dutch Bros. Dutch Bros has also granted the
underwriters a 30-day option to purchase up to an additional
1,730,769 shares of common stock in connection with this
offering.
BofA Securities, J.P. Morgan and Jefferies are acting as lead
book-running managers for this offering. Barclays, Piper Sandler,
Baird, TD Cowen, William Blair and Stifel are acting as
book-running managers for the offering.
The Class A Common Stock is being offered by Dutch Bros pursuant
to an automatic shelf registration statement on Form S-3 that was
filed by Dutch Bros with the U.S. Securities and Exchange
Commission (the “SEC”) on September 6, 2023 and automatically
became effective upon filing. A preliminary prospectus supplement
and accompanying prospectus relating to and describing the terms of
the offering have been filed with the SEC, and a final prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. Copies of the final
prospectus supplement and accompanying prospectus, when available,
may be obtained by contacting BofA Securities by email at
dg.prospectus_requests@bofa.com (or via mail at BofA Securities,
NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001,
Attn: Prospectus Department), J. P. Morgan Securities LLC at (866)
803-9204 or by email at pros pectuseq_fi@jpmorganchase.com, or
Jefferies LLC at (877) 821-7388 or by email at
Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Dutch Bros Inc.
Dutch Bros Inc. is a high growth operator and franchisor of
drive-thru shops that focus on serving high QUALITY, hand-crafted
beverages with unparalleled SPEED and superior SERVICE. Founded in
1992 by brothers Dane and Travis Boersma, Dutch Bros began with a
double-head espresso machine and a pushcart in Grants Pass, Oregon.
While espresso-based beverages are still at the core of what we do,
Dutch Bros now offers a wide variety of unique, customizable cold
and hot beverages that delight a broad array of customers. We
believe Dutch Bros is more than just the products we serve—we are
dedicated to making a massive difference in the lives of our
employees, customers and communities.
Forward-Looking Statements
This press release contains “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, statements
relating to Dutch Bros’ expectations regarding the offering. Such
forward-looking statements are subject to known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside Dutch Bros’ control that could cause actual
results to differ materially from the results discussed in the
forward-looking statements, including those related to the timing,
size and expected gross proceeds of the offering, the satisfaction
of customary closing conditions related to the offering and sale of
securities, Dutch Bros’ ability to complete the offering, and other
risks, including those described under the heading “Risk Factors”
in Dutch Bros’ Form 10-Q for the quarter ended June 30, 2023, filed
with the SEC on August 9, 2023 and in the final prospectus
supplement and accompanying prospectus related to the offering to
be filed with the SEC on September 8, 2023. Forward-looking
statements contained in this press release are made as of this
date, and Dutch Bros undertakes no duty to update such information
except as required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230907126570/en/
For Investor Relations inquiries: Raphael Gross ICR (203)
682-8253 investors@dutchbros.com
For Media Relations inquiries: Jessica Liddell ICR (203)
682-8208 jessica.liddell@icrinc.com
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