PR Newswire·Nov 12, 2026, 9:21 PM ET

Keurig Dr Pepper Announces Pricing of Public Offering of Common Stock

Keurig Dr Pepper Inc. priced its underwritten public offering of 57,971,015 common shares at $34.50 per share.
Underwriters were granted a 30-day option to purchase an additional 8,695,652 shares at the same price.
The offering is expected to close on November 16, 2026, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers for the transaction.
Net proceeds are intended to accelerate deleveraging to optimize the balance sheet ahead of the planned separation into Beverage Co. & Global Coffee Co. in early 2027.
KDP plans to use approximately $2.0 billion of net proceeds to repay or repurchase outstanding debt, including term loans, commercial paper, & senior unsecured notes.
Any additional proceeds from the underwriters' option exercise will be used to further repay or repurchase outstanding debt.
The offering is being made via a prospectus supplement & accompanying prospectus filed with the SEC.