Dutch Bros – $556.8 Million IPO

Palo Alto – September 24, 2021 – Cooley advised Dutch Bros, a drive-thru coffeehouse chain, on its $556.8 million initial public offering of 24,210,526 shares of its common stock. Partners Eric Jensen, Alan Hambelton and Dave Peinsipp led the Cooley team advising Dutch Bros.

BofA Securities, JP Morgan Securities and Jefferies acted as lead book-running managers and representatives of the underwriters for the offering, and Barclays Capital and Piper Sandler & Co. acted as lead book-running managers. Robert W. Baird & Co. and William Blair & Company acted as book-running managers, while Cowen and Company, AmeriVet Securities, Penserra Securities, R. Seelaus & Co., Tribal Capital Markets, and Stifel, Nicolaus & Company acted as co-managers.

Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, Dutch Bros focuses on spreading what it calls the “Dutch Luv.” While espresso-based beverages are still at the core of what it does, the company offers a variety of unique, customizable cold and hot beverages that delight a broad array of customers. Dutch Bros’ combination of handcrafted and high-quality beverages, its unique drive-thru experience and its community-driven, people-first culture has allowed it to successfully open new shops. Its securities now trade on the New York Stock Exchange under the symbol BROS.

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