GRANTS PASS, Ore. - Dutch Bros Inc. (NYSE: NYSE:BROS), the drive-thru coffee chain, announced the launch of a public offering of its Class A common stock by certain selling stockholders affiliated with TSG Consumer Partners, L.P. The offering consists of 8 million shares, with an additional option for the underwriter to purchase up to 1.2 million more shares within 30 days.
The selling stockholders also plan to distribute securities convertible into approximately 389,823 shares of common stock to certain indirect members who have chosen not to participate in the offering. These securities will be subject to lock-up restrictions.
Dutch Bros will not offer any shares nor receive proceeds from this sale, but will incur some costs associated with the transaction, excluding underwriting discounts and commissions. Following the offering, a director from the selling stockholders is expected to step down from the board, and the selling stockholders' right to designate directors will be reduced to one.
Morgan Stanley (NYSE:MS) is serving as the sole underwriter for the offering. The sale will be made through a free writing prospectus, a prospectus supplement, and an accompanying prospectus, available on the SEC's website or directly from Morgan Stanley.
This press release does not constitute an offer to sell or solicit an offer to buy these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.
The information for this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.