BURLINGTON, Mass. and
PLANO, Texas, May 20, 2020 /PRNewswire/ -- Keurig Dr
Pepper (NYSE: KDP) (the "Company" or "KDP") announced today
the commencement of a registered public secondary offering of 40.0
million shares, or approximately 2.8%, of the Company's outstanding
common stock. All of the shares sold in the offering will be
sold by Maple Holdings B.V. ("Maple").
Maple is a holding company majority-owned by JAB Holdings B.V.
("JAB"). JAB has indicated an interest in purchasing directly
an aggregate of up to approximately 7.4 million shares of common
stock in this offering at a price equal to the price paid for the
common stock by the underwriter. The net impact of the offering is
expected to increase KDP's float by approximately 2.3%.
The Company is not selling any shares of common stock and will
not receive any proceeds from the proposed offering. Upon
completion of the offering, assuming JAB purchases approximately
7.4 million shares of common stock in the offering, Maple and JAB
will collectively own approximately 62.8% of the Company's
outstanding common stock. Maple may distribute the proceeds of the
offering to its members or otherwise redeem interests of its
members from time to time, including JAB. Maple and JAB
collectively intend to remain a controlling shareholder in KDP.
Goldman Sachs & Co. LLC is acting as underwriter for the
proposed offering.
The offering will be made only by means of an effective
registration statement and a prospectus. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to the proposed offering may be obtained from: Goldman
Sachs & Co. LLC, Prospectus Department, 200 West Street,
New York, New York 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com. Copies of the preliminary
prospectus supplement and the related prospectus may also be
obtained free of charge from the website of the U.S. Securities and
Exchange Commission (the "SEC") at http://www.sec.gov.
The Company has previously filed with the SEC a registration
statement (including a prospectus) on Form S-3 (File
No. 333-233477) as well as a prospectus supplement, each dated
August 27, 2019, for the offering to which this communication
relates. Before you invest, you should read the prospectus in
that registration statement and other documents the issuer has
filed with the SEC for more complete information about the issuer
and this offering. Copies of the registration statement can
be accessed through the SEC's website at www.sec.gov.
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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in
North America, with annual revenue
in excess of $11 billion and nearly
26,000 employees. KDP holds leadership positions in soft drinks,
specialty coffee and tea, water, juice and juice drinks and mixers,
and markets the #1 single serve coffee brewing system in the U.S.
and Canada. The Company's
portfolio of more than 125 owned, licensed and partner brands is
designed to satisfy virtually any consumer need, any time, and
includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®,
Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut
Shop®. Through its powerful sales and distribution network, KDP can
deliver its portfolio of hot and cold beverages to nearly every
point of purchase for consumers. The Company is committed to
sourcing, producing and distributing its beverages responsibly
through its Drink Well. Do Good. corporate responsibility
platform, including efforts around circular packaging, efficient
natural resource use and supply chain sustainability.
Forward-Looking Statements
Certain statements contained herein are "forward-looking
statements" within the meaning of applicable securities laws and
regulations. These statements are often, but not always, made
through the use of words or phrases such as "may," "might,"
"should," "could," "predict," "potential," "believe," "expect,"
"continue," "will," "anticipate," "seek," "estimate," "intend,"
"plan," and "would," or the negative version of those words or
other comparable words or phrases of a future or forward-looking
nature. These forward-looking statements have been based on the
Company's current views with respect to future events and the
timing of this secondary offering. These forward-looking statements
are subject to a number of risks and uncertainties including
prevailing market conditions, as well as other factors. All of the
forward-looking statements are qualified in their entirety by
reference to the factors discussed under "Risk Factors" in Part I,
Item 1A of the Company's Annual Report on Form 10-K for the year
ended December 31, 2019 and the
Company's other filings with the SEC. Forward-looking statements
represent the Company's estimates and assumptions only as of the
date that they were made. The Company does not undertake any duty
to update the forward-looking statements, and the estimates and
assumptions associated with them, after the date of this release,
except to the extent required by applicable law.
Investors
Tyson Seely
T: 781-418-3352/ tyson.seely@kdrp.com
Steve Alexander
T: 972-673-6769/ steve.alexander@kdrp.com
Media
Katie Gilroy
T: 781-418-3345/ katie.gilroy@kdrp.com
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SOURCE Keurig Dr Pepper