Deal Details
Dutch Bros Completes $300 Million Follow-On Offering
Summary
Dutch Bros Inc. (NYSE: BROS) (“Dutch Bros” or the “Company”) recently completed a public offering of 11,538,461 shares of its common stock at a price of $26.00 per share, generating gross proceeds of approximately $300.0 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,730,769 shares of its common stock. Dutch Bros intends to use the net proceeds from the offering for repayment of indebtedness, working capital and general corporate purposes.
Baird served as a bookrunner on this transaction.
About
Dutch Bros 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 Grants Pass, Oregon. While espresso-based beverages are still at the core of what Dutch Bros does, the Company now offers a wide variety of unique, customizable cold and hot beverages that delight a broad array of customers. Dutch Bros is headquartered in Grants Pass, Oregon.CONTACT US TO LEARN MORE
- Date
- September 2023
- Company
- Dutch Bros Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Consumer
- Verticals
-
Multi-Unit, Restaurants & Franchising
Food & Beverage
- Target Geography
- North America
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