Updated version 2-Keurig Dr Pepper raises 2 billions USD through stock offering, aiming to reduce debt before the spin-off.

Updated share price information in the previous bullet point

Reuters, November 13 - Keurig Dr Pepper (KDP.O) said on Thursday that it raised about $2 billion through a public stock offering, as the beverage maker plans to split into two publicly traded companies early next year and aims to reduce debt ahead of the separation.

The company offered 58 million shares at $34.50 each.

• Last year, Keurig Dr Pepper announced plans to split (link) into two independent companies—Beverage Co. and Global Coffee Co.—with the deal expected to close in early 2027

• The company said on Thursday it intends to use the net proceeds from the offer to pay down or repurchase about $2 billion of outstanding debt

• The company added that it will also grant underwriters a 30-day option to purchase up to an additional $300 million in shares at the offering price

• Goldman Sachs and Morgan Stanley served as joint book-running managers for the offering

• According to its latest quarterly report, as of September 30, Keurig Dr Pepper reported long-term debt (excluding capital leases) of about $21.06 billion

• In April, Keurig completed (link) its $18 billion acquisition of Dutch coffee and tea company JDE Peet's

• Last week, Keurig said it expects (link) fourth-quarter U.S. coffee profits to slow due to cautious consumer spending and increased competition from private labels

• The company's share price fell 7.4% to close at $35.42

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