Dunkin’ Donuts Bumps Size, Price of Secondary Offering (DNKN)
Dunkin’ Brands Group Inc. (NASDAQ: DNKN) announced this morning that it would increase both the number of shares offered and the share price on a secondary offering by “certain of its shareholders.” The initial announcement of a secondary offering came…
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Today’s announcement boosted the offering to 26.4 million shares at a price of $29.50/share. The underwriters have a 30-day over-allotment option on 3.96 million additional shares.
All proceeds from the sale will go to the selling shareholders.
Dunkin’ shares closed at $30.06 yesterday in a 52-week range of $23.24-$32.44. Shares are down about -0.8% in the pre-market this morning at $29.82.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
