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Keurig Dr Pepper Prices Secondary Stock Offering At $27.25 Per Share

Keurig Dr Pepper Inc. (KDP) said Thursday it has priced its previously-announced registered public secondary offering of 40.0 million shares at a price to the public of $27.25 per share. This compares to the beverage company's Wednesday closing stock price of $27.69.

The shares represent about 2.8 percent of Keurig Dr Pepper's outstanding common stock. All of the shares have been offered by Maple Holdings B.V., a holding company majority-owned by JAB Holdings B.V.

JAB Holdings has directly purchased about 7.4 million shares of the common stock in this offering at a price equal to the price paid for the common stock by the underwriter. Goldman Sachs & Co. LLC is acting as underwriter for the offering.

Keurig Dr Pepper expects the net impact of the offering to increase the company's float by approximately 2.3 percent.

Upon completion of the offering, Maple and JAB will collectively own approximately 62.8 percent of the company's outstanding common stock.

Maple may distribute the proceeds of the offering to its members or otherwise redeem interests of its members from time to time, including JAB. Maple and JAB collectively intend to remain a controlling shareholder in KDP.

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