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Keurig Dr Pepper announces secondary common stock offering on Mondelez's behalf

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June 8, 2021

Keurig Dr Pepper has announced a public secondary offering of 28 million shares of the company's outstanding common stock, on behalf of Mondelēz International Holdings LLC, according to a press release. Mondelēz has also granted the underwriter a 30-day option to purchase up to 4.2 million additional shares.

All of the shares in the offering will be sold by Mondelēz, which represents approximately 2% of the company's outstanding common stock.

KDP is not selling any shares of common stock and will not receive any proceeds from the offering.

Upon completion of the offering, Mondelēz will own approximately 6.4% of the company's outstanding common stock. At this ownership level, Mondelēz will retain one of its two board seats.