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Keurig Dr Pepper prices $40 million secondary stock offering at $27.25 a share

MarketWatch logo MarketWatch 5/21/2020 Ciara Linnane
MARKET PULSE

Keurig Dr Pepper Inc. shares (kdp) slid 3.4% in premarket trade Thursday, after the drinks company priced a $40 million secondary stock offering, joining the many companies that are issuing debt or equity to bolster liquidity during the pandemic. The Burlington, Mass.-based company priced the deal at $27.25 a share, compared with its Wed. closing price of $27.69. The shares were sold by Maple Holdings B.V., a holding company majority owned by JAB Holdings B.V., a Luxembourg-based German conglomerate, which has directly purchased about 7.4 million shares. Goldman Sachs is sole underwriter on the deal. Shares have fallen 4.4% in the year to date through Wednesday, while the S&P 500 (spx) has fallen 8%.

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