Keurig Dr Pepper Prices 60 Mln Share Offering By JAB At $32.85/shr; Stock Down In Pre-market

(RTTNews) - Keurig Dr Pepper Inc. (KDP) Tuesday said it priced its previously-announced secondary public offering of 60 million shares by a subsidiary of JAB Holding Company s.a.r.l., at $32.85 per share. The beverage company's shares were down more than 3 percent in pre-market.

JAB has also granted the underwriter a 30-day option to purchase up to an additional 9 million shares.

Following the transaction, JAB will own about 15.8 percent of KDP shares assuming full exercise of the underwriter's option to purchase additional shares.

Morgan Stanley is acting as the underwriter for the offering.

KDP stock had closed at $33.86, down 2,08 percent on Monday. It has traded in the range of $28.62 - $38.28 in the last 1 year.