Dutch Bros Shares Cool Off After Hours On Stock Offering
Portfolio Pulse from Adam Eckert
Dutch Bros Inc (NYSE:BROS) announced a proposed underwritten $300 million public offering of common stock, with an option for underwriters to purchase up to an additional $45 million of Class A common stock. The offering is subject to market conditions and there is no assurance if or when it will be completed. The company's shares were down 5.56% after hours at $26.50 following the announcement.
September 06, 2023 | 8:54 pm
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Dutch Bros' announcement of a $300 million public offering of common stock has led to a drop in its share price.
The announcement of a public offering often leads to a drop in a company's share price as it dilutes the value of existing shares. In this case, Dutch Bros' shares dropped 5.56% after hours following the announcement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100