Shareholders to sell 22 million Dunkin' shares
Nov. 1, 2011
by Josh Sosland
CANTON, MASS. — Dunkin’ Brands Group Inc. on Nov. 1 said 22 million shares of the company’s common stock will be offered for sale by existing shareholders.
Dunkin’ said a registration statement will be filed with the Securities and Exchange Commission in connection with the offering, under which an additional 3.3 million shares may be purchased by underwriters at their option.
Dunkin’ said proceeds from the sale will go entirely to the selling shareholders with no stock being sold by the company.
The plan for the secondary offering was announced exactly three months after Dunkin’ completed an initial public offering in which the company sold 25.6 million shares of common stock at a price of $19 per share, less underwriter discounts and commissions. Proceeds were used principally to repay debt.
The average number of Dunkin’ shares outstanding in the third quarter ended Sept. 24 was 111,876,199.
In early trading Nov. 1 on the Nasdaq exchange, shares of Dunkin’ were trading at $27.65 per share, down $1.46 or about 5%.