08:27 AM EDT, 10/29/2024 (MT Newswires) -- Keurig Dr Pepper ( KDP ) said Tuesday that a secondary offering of 60 million shares by a JAB Holding unit was priced at $32.85 per share.

JAB also granted the underwriter a 30-day option to buy up to an additional 9 million shares, the beverage company said.

Upon completion, JAB will own roughly 17% of Keurig Dr Pepper's ( KDP ) outstanding common shares, or about 16% if the underwriter exercises its option fully, the company said.

KDP shares were down 4.7% in recent Tuesday premarket activity.

Price: 32.28, Change: -1.58, Percent Change: -4.67