BURLINGTON, Mass. and
PLANO, Texas, May 21, 2020 /PRNewswire/ -- Keurig Dr Pepper
(NYSE: KDP) (the "Company" or "KDP") announced today the pricing of
its previously-announced registered public secondary offering of
40.0 million shares, or approximately 2.8%, of the Company's
outstanding common stock, at a price to the public of $27.25 per share. All of the shares have been
offered by Maple Holdings B.V. ("Maple").
Maple is a holding company majority-owned by JAB Holdings B.V.
("JAB"). JAB has directly purchased approximately 7.4 million
shares of the Company's 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%.
Upon completion of 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
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