BusinessDutchpublic

Dutch Bros to go public as IPO priced well above expectations

Dutch Bros Inc.
BROS,
+47.65%

is set to debut on the public markets Wednesday, after the initial public offering of the Oregon-based operator of drive-through shops that serve hot and cold drinks priced overnight at $23 a share, well above the expected range of between $18 and $20 a share. The company sold 21.05 million shares in the IPO to raise $484.2 million. The stock is expected to begin trading Wednesday on the NYSE under the ticker symbol “BROS.” The company is going public at a time that the Renaissance IPO ETF
IPO,
-0.00

has gained 7.4% over the past three months, while the S&P 500
SPX,
+0.47%

has tacked on 4.6%.

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