Dutch Bros Inc (BROS) on Thursday announced the pricing of an underwritten offering of 11,538,461 shares of its Class A common stock at a price of $26.00 per share.
The company has also provided the underwriters with a 30-day option to buy up to additional 1,730,769 shares of common stock.
The gross proceeds from the offering are estimated at nearly $300 million, before the deduction of underwriting discounts, commissions and other offering expenses that Dutch Bros is required to pay.
BofA Securities, J.P. Morgan and Jefferies are lead book-running managers for the offering, while Barclays, Piper Sandler, Baird, TD Cowen, William Blair and Stifel are book-running managers.
The offering is expected to close on or around September 12th, given customary closing conditions have been satisfied.
The shares of Dutch Bros Inc (BROS) closed 4.63% ($1.30) lower at $26.78 in New York on Thursday, while extending the losses from the prior three trading sessions.
The company’s total market cap now stands at $4.388 billion.
The shares of Dutch Bros Inc have retreated 5.00% so far this year.
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