Dutch Bros Inc. last week closed on its initial public offering of 24,210,526 shares of its Class A common stock, including the exercise in full of the underwriters’ option to purchase 3,157,894 additional shares, at a price to the public of $23 per share.
Proceeds from the initial public offering were approximately $556.8 million, before deducting underwriting discounts and commissions and other offering expenses.
The Class A common stock began trading on The New York Stock Exchange under the symbol “BROS” on Sep. 15, 2021.
Seeking Alpha commented:
"Dutch Bros (BROS) has seen a very strong public offering as investors are in love with the latest coffee franchise which has gone public. Strong unit economies and a decent growth story make that investors seem to believe that another Starbucks is in the making..."
