Dutch Bros Announces Pricing Of Secondary Offering Of 8 Mln Class A Common Stock At $34/shr

(RTTNews) - Dutch Bros Inc. (BROS) announced pricing of registered underwritten public offering by certain selling stockholders associated with TSG Consumer Partners, L.P. of 8 million shares of Dutch Bros' Class A common stock, par value $0.00001 per share at a public offering price of $34.00 per share.

The offering is expected to close on or about March 26, 2024. The Selling Stockholders granted the underwriters a 30-day option to purchase up to an additional 1.20 million shares of Common Stock.

Dutch Bros said it is not offering any shares of Common Stock in this offering and will not receive any proceeds from the sale of shares of Common Stock 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.

Upon completion of the offering, one of the directors nominated by the Selling Stockholders will resign from the Dutch Bros board of directors.