BURLINGTON, Mass., and FRISCO, Texas, Oct. 29,
2024 /PRNewswire/ -- Keurig Dr Pepper (NASDAQ: KDP)
(the "Company or "KDP") announced today the pricing of its
previously-announced registered public offering of 60,000,000
shares through a secondary offering by a subsidiary of JAB Holding
Company s.a.r.l. ("JAB"), at a price to the public of $32.85 per share. JAB has also granted the
underwriter a 30-day option to purchase up to an additional
9,000,000 shares.
Following the completion of the offering, JAB will beneficially
own approximately 16.5% of KDP's outstanding common stock, or
approximately 15.8% assuming full exercise of the underwriter's
option to purchase additional shares. The remaining shares
beneficially owned by JAB will be subject to a 90-day lock-up
agreement with the underwriter.
Morgan Stanley is acting as the underwriter for the secondary
offering.
The offering will be made only by means of an effective
registration statement and a prospectus. The Company has previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
a registration statement (including a prospectus) on Form S-3 (File
No. 333-266989) and a prospectus supplement, each dated
August 19, 2022, as well as a
preliminary prospectus supplement for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement, the accompanying
prospectus supplements and other documents the issuer has filed
with the SEC for more complete information about the issuer and
this offering. These documents can be accessed through the SEC's
website at www.sec.gov or by contacting Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Investors:
Investor Relations
Keurig Dr Pepper
T: 888-340-5287 / IR@kdrp.com
Media:
Katie Gilroy
Keurig Dr Pepper
T: 781-418-3345 / katie.gilroy@kdrp.com
About Keurig Dr Pepper
Keurig Dr Pepper (Nasdaq: KDP)
is a leading beverage company in North
America, with a portfolio of more than 125 owned, licensed
and partner brands and powerful distribution capabilities to
provide a beverage for every need, anytime, anywhere. With annual
revenue of approximately $15 billion,
we hold leadership positions in beverage categories including soft
drinks, coffee, tea, water, juice and mixers, and have the #1
single serve coffee brewing system in the U.S. and Canada. Our innovative partnership model
builds emerging growth platforms in categories such as premium
coffee, energy, sports hydration and ready-to-drink coffee. Our
brands include Keurig®, Dr Pepper®, Canada Dry®, Mott's®, A&W®,
Snapple®, Peñafiel®, 7UP®, Green Mountain Coffee Roasters®,
Clamato®, Core Hydration® and The Original Donut Shop®. Driven by a
purpose to Drink Well. Do Good., our 28,000 employees aim to
enhance the experience of every beverage occasion and to make a
positive impact for people, communities and the planet.
FORWARD-LOOKING STATEMENTS
Certain statements
contained herein are "forward-looking statements" within the
meaning of applicable securities laws and regulations. These
forward-looking statements can generally be identified by the use
of words such as "outlook," "guidance," "anticipate," "expect,"
"believe," "could," "estimate," "feel," "forecast," "intend,"
"may," "plan," "potential," "project," "should," "target," "will,"
"would," and similar words. Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
These statements are based on the current expectations of our
management, are not predictions of actual performance, and actual
results may differ materially.
Forward-looking statements are subject to a number of risks and
uncertainties, including the factors disclosed in our Annual Report
on Form 10-K, the prospectus supplements and subsequent filings
with the SEC. We are under no obligation to update, modify or
withdraw any forward-looking statements, except as required by
applicable law.
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SOURCE Keurig Dr Pepper Inc.