Krispy Kreme begins trading under “DNUT” on the Nasdaq Global Select Market on Thursday, offering 29 million shares of its common stock at a public offering price of $17 per share — coming in far below industry estimates.
Krispy Kreme’s current share pricing is a far cry from the success the doughnut chain experienced after its first IPO in 2001. Just a few years after its pubic debut, the company’s shares priced at $50 each. The company’s first public stint lasted until 2016, when JAB Holdings bought Krispy Kreme for roughly $1.35 billion and took it private.
The shares are expected to begin trading on the Nasdaq Global Select Market on July 1, 2021, under the ticker symbol “DNUT” and the offering is expected to close on July 6, 2021, subject to the satisfaction of customary closing conditions.
In addition, the underwriters have been granted a 30-day option to purchase up to an additional 4,411,764 shares of its common stock at the initial public offering price, less underwriting discounts, and commissions.
Krispy Kreme will use the funds to pay down its $1.2 million in debt.