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Dutch Bros. formally asks for permission to go public

The privately-owned Grants Pass coffee company filed paperwork Friday with the U.S. Securities & Exchange Commission.

Posted: Aug 20, 2021 5:27 PM

GRANTS PASS, Ore-- A local company that commonly raises funds for good causes could raise funds for itself with common stock – worth $100,000,000.

The Grants Pass-based Dutch Bros is asking the United States Securities & Exchange Commission (SEC) to consider its application to register with the SEC to sell common stock. It filed documents with the SEC Friday that could allow the company to sell ownership shares of the company to the public.

Dutch Bros says, “We’ve filed a confidential S-1 with the SEC, but any (initial public offering) IPO would potentially take place only after the SEC completes its review process, subject to market and other conditions.”

While Grants Pass is the company’s business address, SEC filing documents show the company registered its incorporation in Delaware in June. Its certificate of incorporation, also filed with the SEC, says Dutch Bros. is authorized to issue 5,000 shares of stock.

Dutch Bros’ preliminary prospectus with the SEC has more than 200 pages, dated August 20, 2021, and it says, “The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.”

Its registration Form S-1 with the SEC shows its intended possible stock IPO proposed maximum aggregate offering price is $100,000,000.

As it considers becoming a publicly held company, Dutch Bros says, “At this point, we aren’t sure whether an IPO is the path we’ll take, but we appreciate the opportunity to explore the future of Dutch Bros.

Due to securities laws, we cannot comment further at this time. Regardless of what we do, we’ll remain committed to making a massive difference in the communities we serve!”

Dutch Bros Coffee, founded by Dane and Travis Boersma in 1992, has more than 470 locations.

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