11:51 AM EDT, 03/22/2024 (MT Newswires) -- Dutch Bros ( BROS ) shares were down 7% in recent Friday trading following the pricing of a secondary offering of its common stock, while its Executive Chair Travis Boersma sold certain shares.

Late Thursday, the drive-thru coffee shop chain said certain stockholders associated with TSG Consumer Partners priced a secondary public offering of 8 million class A shares of the company at $34 each. The offering is expected to close by Tuesday.

Separately, Boersma -- a 10% owner -- sold 98,017 shares in the company on Thursday, according to a Friday filing with the US Securities and Exchange Commission.

A separate Friday filing with the SEC showed that Chief Operating Officer Brian Maxwell sold 36,026 shares in Dutch Bros ( BROS ) on Thursday.

Price: 33.10, Change: -2.52, Percent Change: -7.07