Keurig Dr Pepper drops after beginning $2 billion stock offering
KDP•KDP•KDP•KDP•Keurig Dr Pepper shares fell 5.4% in premarket trading after the company began a $2 billion stock offering. It intends to use the proceeds to repay $2 billion of debt ahead of a planned separation into Beverage Co. and Global Coffee Co. in early 2027.
Keurig Dr Pepper began a $2 billion stock offering and said it intends to use the net proceeds to repay $2 billion of debt. The planned separation into Beverage Co. and Global Coffee Co. is targeted for early 2027, with Goldman Sachs and Morgan Stanley as joint bookrunners.
Shares were down 5.4% at $36.20 in premarket trading on Thursday and could snap a three-session winning streak if losses hold. The stock was up about 37% year to date through Wednesday's close. Last week, the company flagged slower fourth-quarter U.S. coffee profit growth amid cautious spending and increased competition from private players.
