Keurig Dr Pepper Announces Pricing of up to 100 million Shares of Common Stock by JAB and Repurchase of 35 million Shares by KDP
Summary
The Repurchase is being effected under its previously announced $4 billion repurchase authorization of which approximately $1.8 billion will remain outstanding following the offering.Following the completion of the offering, assuming full exercise of the underwriters option to purchase additional shares, JAB will beneficially own approximately 21% of KDPs outstanding common stock, giving effect to the Repurchase, bringing KDPs public float to approximately 79%.Under the terms of the transaction, the remaining shares beneficially owned by JAB will be subject to a 180 day lock-up agreement with the underwriter.Morgan Stanley is acting as the underwriter for the offering.The offering will be made only by means of an effective registration statement and a prospectus. These documents can be accessed through the SECs website at www.sec.gov or by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. The Companys portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig\xae, Dr Pepper\xae, Canada Dry\xae, Clamato\xae, CORE\xae, Green Mountain Coffee Roasters\xae, Motts\xae, Snapple\xae, and The Original Donut Shop\xae. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. These statements are based on the current expectations of our management, are not predictions of actual performance, and actual results may differ materially.Forward-looking statements are subject to a number of risks and uncertainties, including the factors disclosed in our Annual Report on Form 10-K, the prospectus supplements and subsequent filings with the SEC.