USA: Peet's Coffee & Tea Files for Initial Public Offering
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
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Brown-Forman's march on premium whisk(e)y -Comment
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Where does AB InBev see the future of beer?
- Should Boston Beer Co put up the For Sale sign?
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends