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Grants Pass, Oregon – dutch brothers Inc. (NYSE:), a drive-thru coffee chain, announced the commencement of a registered underwritten public offering of 8,000,000 shares of its Class A common stock by certain selling stockholders of TSG Consumer Partners, LP. At the same time, these shareholders will distribute 383,363 shares of securities convertible into common stock to certain members who choose to retain their shares.
This offering is being managed by Morgan Stanley as the sole underwriter and is not contingent on completion of any in-kind distribution and is subject to lock-up restrictions detailed in the prospectus supplement. Dutch Brothers will not sell any shares or receive any proceeds from this offering, but will incur related costs, excluding underwriting discounts and commissions.
This action is based on a shelf registration statement on Form S-3 filed with the SEC and is effective upon filing. The offering will be made through a prospectus supplement and accompanying prospectus available from the SEC's website or upon request from Morgan Stanley.
Founded in 1992, Dutch Brothers has grown from a pushcart operation in Grants Pass, Oregon, to a franchisor of drive-thru shops known for its handcrafted beverages and fast service. The company emphasizes its commitment to positively impacting its employees, customers and communities.
Our forward-looking statements regarding the proposed size and terms of the offering are subject to market conditions and other risks, as detailed in Risk Factors in our Form S-3 registration statement and future SEC filings. is.
This press release statement is the basis of a news article and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offer, solicitation or sale of such securities would be unlawful without registration or qualification under the securities laws of any applicable state or jurisdiction.
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