Keurig Dr Pepper Prices Secondary Offering of Common Shares by JAB Unit
Keurig Dr Pepper (KDP) said Thursday that a subsidiary of JAB Holding priced a public offering of 73 million of its shares at $32.80 apiece.
JAB has granted the underwriter a 30-day option to purchase up to an additional 10.95 million shares, the company added.
Upon completion, JAB will beneficially own approximately 10.7% of KDP's outstanding common stock, with its remaining shares subject to a 90-day lock-up agreement, the company said.
Keurig's stock was down 1.8% in recent trading.
Price: 33.15, Change: -0.59, Percent Change: -1.75
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