Dutch Bros Inc (BROS) just unveiled an update.
Dutch Bros Inc. has made significant strides with its IPO, establishing a Stockholders Agreement that allows for board member nominations from its primary sponsor. The company recently facilitated a public offering where affiliates of the sponsor sold 8 million shares without the company offering any or receiving proceeds. This move was structured through an Underwriting Agreement with Morgan Stanley and is governed by a range of customary terms, including a 45-day lock-up period for insiders. The offering’s legal aspects are backed up by an opinion from Cooley LLP, ensuring the sale’s legitimacy.
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