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Dutch Bros Inc. commences roadshow for proposed Initial Public Offering

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GRANTS PASS, Ore., US – Dutch Bros Inc. (“Dutch Bros”) today announced it has commenced the roadshow for its proposed initial public offering of 21,052,632 shares of its Class A common stock, pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (“SEC”).

The initial public offering price is currently expected to be between $18.00 and $20.00 per share of Class A common stock. Dutch Bros also intends to grant the underwriters a 30-day option to purchase up to an additional 3,157,894 shares of Class A common stock from the Company.

Dutch Bros intends to list its Class A common stock on The New York Stock Exchange (“NYSE”) under the symbol “BROS”.

BofA Securities, J.P. Morgan Securities and Jefferies LLC are acting as lead book running managers and representatives of the underwriters for the proposed offering. Barclays Capital Inc., and Piper Sandler & Co. are also acting as lead book-running managers for the proposed offering. Robert W. Baird & Co. and William Blair are acting as book-running managers for the proposed 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 proposed offering.

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from the SEC at www.sec.gov, and from:

  • BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com
  • J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com or by telephone at 1-866-803-9204.
  • Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at prospectus_department@Jefferies.com or by telephone at 1-877-821-7388.
  • Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at barclaysprospectus@broadridge.com or by telephone at 1-888-603-5847.
  • Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by email at prospectus@psc.com or by telephone at 1-800-747-3924.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.