Dutch Bros drops 5% on pricing secondary offering

Dutch Bros Coffee Shop

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Dutch Bros (NYSE:BROS) priced underwritten public offering by certain selling stockholders associated with TSG Consumer Partners of 8M shares at a public offering price of $34.00 per share.

The offering is expected to close on or about March 26, 2024.

Underwriters have a 30-day option to purchase up to an additional 1.2M shares.

The company is not offering any shares and will not receive any proceeds from the sale of shares by the selling stockholders but will bear a portion of the costs associated with the sale of such shares, other than any underwriting discounts and commissions.

The stock price is down 4.6% on Friday during pre-market hours of trading.

Roy Walsh

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