September 15, 2021
Dutch Bros Inc., a high growth operator and franchisor of drive-thru shops that focus on serving high quality, hand-crafted beverages, has announced the pricing of its initial public offering of 21,052,632 shares of its Class A common stock at a price to the public of US$23 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,157,894 shares of Class A common stock from the Company at the initial public offering price, less underwriting discounts and commissions. The Class A common stock began trading on The New York Stock Exchange under the symbol “BROS” on September 15, 2021, and the offering is expected to close on September 17, 2021, subject to customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe, Ian Schuman, and Stelios Saffos, with New York associates Taylor Stevens, Biagio Marino, and Autumn Dunn. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with New York associate Michael Syku; on data & technology transactions matters by New York partner Jeffrey Tochner; and on benefits & compensation matters by Chicago partner Robin Struve.