Dutch Bros Shares Cool Off After Hours On Stock Offering

Dutch Bros Inc BROS shares are trading lower in Wednesday's after-hours session after the drive-thru coffee company announced an offering.

What Happened: Dutch Bros proposed an underwritten $300 million public offering of common stock. The company expects to grant the underwriters a 30-day option to purchase up to an additional $45 million of Class A common stock.

Dutch Bros did not provide details on the size or terms of the offering. It's subject to market conditions and there is no assurance if or when it will be completed. 

Dutch Bros reported mixed first-quarter financial results in early August. The company generated $249.9 million in revenue for the quarter and earnings of 13 cents per share. 

Dutch Bros is an operator and franchisor of drive-thru shops focused on serving high quality coffee and other hand-crafted beverages. 

See Also: Starbucks Unusual Options Activity

BROS Price Action: Dutch Bros shares are down close to 15% in just the last month and the stock is essentially flat for the year. 

Dutch Bros shares were down 5.56% after hours at $26.50 on the heels of the offering, per Benzinga Pro.

Photo: courtesy of Dutch Bros.