USA: Peet's Coffee & Tea Files for Initial Public Offering

By Company Press Release | 16 October 2000

Peet's Coffee & Tea (Nasdaq:PEET), a specialty coffee roaster and marketer, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) for an initial public offering of 3,300,000 shares of its common stock with an estimated price range of $10.00 to $14.00 per share. Of the total offering, 2,500,000 shares are being offered by the Company and 800,000 shares are being offered by certain shareholders. In addition, the Company and the selling shareholders have granted the underwriters an option to purchase an additional 495,000 shares to cover over-allotments, if any. The managing underwriters of the offering are WR Hambrecht + Co and Pacific Growth Equities, Inc. The method of distribution of the shares will be through WR Hambrecht + Co's proprietary OpenIPO system. Founded in Berkeley, Calif. in 1966, Peet's Coffee & Tea is a specialty coffee roaster and marketer focused on selling fresh whole bean coffees through multiple channels of distribution, including specialty grocery and gourmet food stores, online and mail order, offices and restaurant accounts and 57 company-owned stores in four states. The OpenIPO process is similar to a traditional underwriting except that the pricing and allocation of the shares will be based on the results of a modified Dutch auction. All qualified investors place a bid for the number of shares they want to own and the price they want to pay. To participate in the offering, an investor must meet SEC qualifications and have an account with WR Hambrecht + Co, or a participating broker in the OpenIPO Network. Information regarding the OpenIPO process may be obtained through

just-drinks articles are only available to registered users and members.

Join now for increased access

There are various access options to choose from. All provide instant access to the latest news, insight and expert analysis.

If you’re already a member, login here.

Peet's Coffee & Tea (Nasdaq:PEET), a specialty coffee roaster and marketer, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) for an initial public offering of 3,300,000 shares of its common stock with an estimated price range of $10.00 to $14.00 per share. Of the total offering, 2,500,000 shares are being offered by the Company and 800,000 shares are being offered by certain shareholders. In addition, the Company and the selling shareholders have granted the underwriters an option to purchase an additional 495,000 shares to cover over-allotments, if any. The managing underwriters of the offering are WR Hambrecht + Co and Pacific Growth Equities, Inc. The method of distribution of the shares will be through WR Hambrecht + Co's proprietary OpenIPO system. Founded in Berkeley, Calif. in 1966, Peet's Coffee & Tea is a specialty coffee roaster and marketer focused on selling fresh whole bean coffees through multiple channels of distribution, including specialty grocery and gourmet food stores, online and mail order, offices and restaurant accounts and 57 company-owned stores in four states. The OpenIPO process is similar to a traditional underwriting except that the pricing and allocation of the shares will be based on the results of a modified Dutch auction. All qualified investors place a bid for the number of shares they want to own and the price they want to pay. To participate in the offering, an investor must meet SEC qualifications and have an account with WR Hambrecht + Co, or a participating broker in the OpenIPO Network. Information regarding the OpenIPO process may be obtained through

  • Unlimited access to all the latest global beverage news and insight
  • Expert analysis that puts the news into context
  • Exclusive interviews with leading industry figures
  • Monthly management briefings with detailed analysis on hot topics
  • Personalised RSS feeds and email newsletters
  • 10-year archive of news, insight and intelligence
  • Discounts on just-drinks market research
  • Plus much more

If you’re already a member, login here

Not what you were looking for?

Search just-drinks:

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page