Keurig Dr Pepper (Nasdaq: KDP) announced the pricing of its previously announced registered public secondary offering of 28 million shares of the company's outstanding common stock on behalf of Mondelēz International Holdings LLC at a price to the public of $35.65 per share.
Mondelēz has also granted the underwriter a 30-day option to purchase up to 4.2 million additional shares. All shares in the offering have been sold by Mondelēz. This sale represents approximately 2% of the company's outstanding common stock, about 2.3%, assuming full exercise of the underwriter's option to purchase additional shares.
The offering is expected to close on June 10, 2021.
Upon completion of the offering, Mondelēz will own about 6.4% KDP's outstanding common stock. KDP will not receive any proceeds from the offering.
Goldman Sachs & Co. LLC is acting as the underwriter for the offering.