Shares of beverage company Keurig Dr Pepper Inc. (KDP) are down more than 5% Tuesday morning.
Monday, the company announced a secondary public offering of 28 million common shares, on behalf of Mondelez International Holdings LLC.
Upon completion of the offering, Mondelez will own about 6.4% of the Company’s outstanding common stock. KDP will not receive any proceeds from the offering.
KDP, currently at $34.97, has traded in the range of $26.66- $37.11 in the last one year.
Source: Read Full Article