Driven Brands (DRVN) Commences 12M Share Secondary Offering

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Go back to Driven Brands (DRVN) Commences 12M Share Secondary Offering

Driven Brands Announces Commencement of Secondary Offering

August 2, 2021 4:19 PM EDT

CHARLOTTE, N.C., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (Driven Brands or the Company) (NASDAQ: DRVN), today announced the commencement of an underwritten secondary public offering of 12 million shares of Driven Brands common stock by Driven Equity LLC and RC IV Cayman ICW Holdings LLC (together the Selling Stockholders), each of which is a related entity of Roark Capital Management, LLC. The Selling Stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. Driven Brands is not selling any shares of... More