Keurig Dr Pepper Prices Upto 100M Common Shares by JAB At $29.10/share
Portfolio Pulse from Benzinga Newsdesk
Keurig Dr Pepper (KDP) has announced the pricing of up to 100 million common shares at $29.10 each by JAB. KDP plans to repurchase 35 million shares as part of this offering, under its $4 billion repurchase authorization, leaving approximately $1.8 billion remaining. Post-offering, JAB will own about 21% of KDP's outstanding stock, increasing KDP's public float to roughly 79%.
March 01, 2024 | 8:50 am
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Keurig Dr Pepper announces pricing of shares by JAB and a significant repurchase of 35 million shares, affecting its stock ownership structure and public float.
The repurchase of shares by KDP under its significant repurchase authorization demonstrates confidence in its own stock, potentially signaling to investors a positive outlook. This, combined with the change in ownership structure and increase in public float, could lead to increased liquidity and potentially positive market sentiment towards KDP in the short term.
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