Coffee Service

Keurig Dr Pepper announces pricing of secondary common stock offering

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May 21, 2020

Keurig Dr Pepper announced today the pricing of its previously-announced registered public secondary offering of 40.0 million shares, or approximately 2.8%, of the company's outstanding common stock, at a price to the public of $27.25 per share, according to a press release. All of the shares have been offered by Maple Holdings B.V.

Maple is a holding company majority-owned by JAB Holdings B.V. which has directly purchased approximately 7.4 million shares of the company's common stock in this offering at a price equal to the price paid for the common stock by the underwriter. The net impact of the offering is expected to increase KDP's float by approximately 2.3%.

Upon completion of the offering, Maple and JAB will collectively own approximately 62.8% of the company's outstanding common stock. Maple may distribute the proceeds of the offering to its members or otherwise redeem interests of its members from time to time, including JAB. Maple and JAB collectively intend to remain a controlling shareholder in KDP.