05:16 PM EDT, 06/10/2024 (MT Newswires) -- Dutch Bros ( BROS ) said Monday it started a secondary offering of 8.76 million class A common shares.

Selling shareholders associated with TSG Consumer Partners plan to sell the shares in the registered underwritten public offering, Dutch Bros ( BROS ) said.

Dutch Bros ( BROS ) said it will not receive any proceeds from the offering.

The company said the selling shareholders plan to distribute in-kind securities convertible into 723,813 shares to certain indirect members who chose to maintain their interest in Dutch Bros ( BROS ) and did not participate in the offering.

Sean Sullivan, who was nominated to Dutch Bros' ( BROS ) board by TSG Consumer Partners, will resign on completion of the offering.

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