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According to a press release from the company, it’s selling up to $300 million worth of BROS stock in this public offering. To go along with that, there’s a 30-day option for underwriters to acquire another $45 million shares of BROS stock at the offering price.
Investors wanting more details will have to wait for an additional announcement from Dutch Bros. The company hasn’t said how many shares will be included in the offering or what they will be priced at. What we do know is that the lead book-running managers for the offering are BofA Securities, J.P. Morgan Securities LLC, and Jefferies LLC.
What This Means For BROS Stock
A public stock offering means that Dutch Bros plans to increase the total number of shares it has available on the market. Doing so dilutes the stakes of current investors, which is likely part of the reason the stock is falling today.
News of the public offering also has shares of BROS stock seeing strong trading on Thursday. As of this writing, more than 820,000 shares of the stock have changed hands. That’s closing in on the company’s daily average trading volume of about 858,000 shares.
BROS stock is down 5.6% as of Thursday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.