People may soon have the opportunity to buy common stock in addition to their mocha from Dutch Bros Inc. The Northwest coffee chain announced it has filed a registration statement with the Securities and Exchange Commission. It is proposing an initial public offering of shares of its common stock.
Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon.
The number of shares to be offered and the price range for the proposed offering have not yet been determined. Dutch Bros intends to list its Class A common stock on The New York Stock Exchange under the symbol BROS.
BofA Securities, J.P. Morgan Securities LLC, Jefferies LLC, Barclays Capital Inc. and Piper Sandler & Co. are acting as lead book-running managers for the proposed stock offering.
While Dutch Bros has filed a statement with the SEC, stocks will not be available to the public until the statement becomes effective.