Dutch Bros announces offering of 8M shares of Class A common stock for holders

Dutch Bros announced commencement of a registered underwritten public offering of its Class A common stock by certain selling stockholders associated with TSG Consumer Partners. The selling stockholders intend to offer 8M shares of common stock. Substantially concurrently with the consummation of this offering, the selling stockholders expect to distribute in kind 383,363 securities convertible into shares of common stock to certain of their indirect members who have elected to maintain their existing interests and to not participate in this offering. Dutch Bros is not offering any shares of common stock in this offering and will not receive any proceeds from the sale of shares of common stock by the selling stockholders but will bear the costs associated with the sale of such shares, other than any underwriting discounts and commissions. Morgan Stanley is acting as sole underwriter for the proposed offering.