Dutch Bros Inc. Announces Pricing of $300 Million Offering of Class A Common Stock
- Underwritten offering expected to raise approximately $300 million
- Underwriters granted option to purchase additional shares
- None.
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
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
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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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
Source: Dutch Bros Inc.