MCD - Krispy Kreme IPO priced well below expected range at $17/share

Scott Olson/Getty Images News Krispy Kreme (DNUT) priced its IPO at $17/share, well below its expected range of $21 to $24/share. The donut chain today priced the 29.4M shares at $17 to raise about $500M.The underwriters have been granted a 30-day option to purchase up to an additional 4.41M shares, according to a statement. Krispy Kreme shares will begin trading tomorrow on the Nasdaq under the ticker "DNUT." Krispy Kreme was public until JAB Holdings acquired the company in 2016 for $1.35B. JAB,  the investment vehicle of Germany’s billionaire Reimann family, also owns Panera Bread, Keurig Green Mountain, Caribou Coffee, Pret A Manger and Einstein Noah bagels. Krispy Kreme competitor Dunkin Brands (DNKN) was purchased by Inspire Brands, the owner of Arby's restaurants, for $8.76B  last year. Starbucks (SBUX), Wendy's (WEN) and McDonald's (MCD) are some of the other chains competing for breakfast daypart traffic. JPMorgan, Morgan Stanley, BofA are acting as lead book-running managers for the proposed offering. Earlier

For further details see:

Krispy Kreme IPO priced well below expected range at $17/share