Dutch Bros (BROS) IPO Opens 41% Higher

Today's IPO for Dutch Bros Inc. (NYSE: BROS) opened for trading earlier at $32.50 after pricing 21,052,632 shares of its Class A common stock at a price to the public of $23.00 per share.

BofA Securities, J.P. Morgan Securities and Jefferies LLC are acting as lead book-running managers and representatives of the underwriters for the offering. Barclays Capital Inc. and Piper Sandler & Co. are also acting as lead book-running managers for the offering. Robert W. Baird & Co. Incorporated and William Blair are acting as book-running managers for the offering. Cowen, Stifel, Nicolaus & Company, Incorporated, AmeriVet Securities, Inc., Penserra Securities LLC, R. Seelaus & Co., LLC and Tribal Capital Markets, LLC are acting as co-managers for the offering.

Dutch Bros is a high growth operator and franchisor of drive-thru shops that focus on serving high QUALITY, hand-crafted beverages with unparalleled SPEED and superior SERVICE. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. While espresso-based beverages are still at the core of what we do, Dutch Bros now offers a wide variety of unique, customizable cold and hot beverages that delight a broad array of customers. We believe Dutch Bros is more than just the products we serve—we are dedicated to making a massive difference in the lives of our employees, customers and communities. This combination of hand-crafted and high-quality beverages, our unique drive-thru experience and our community-driven, people-first culture has allowed us to successfully open new shops and continue to share the “Dutch Luv” at 471 locations in 11 states as of June 30, 2021.

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