Keurig Dr Pepper announced the pricing of a registered public offering by a subsidiary of JAB Holding Company s.a.r.l. for 75,000,000 shares of KDP common stock. The shares were priced to the public at $33.45 per share.
Following the completion of this offering, JAB will beneficially own approximately 4.4% of KDP's outstanding common stock. The remaining shares beneficially owned by JAB will be subject to a 60-day lock-up agreement.
This transaction marks a significant reduction in JAB's ownership stake in Keurig Dr Pepper. J.P. Morgan is acting as the underwriter for this secondary offering.
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