Keurig Dr Pepper drops after beginning $2 bln stock offering

Goldman Sachs group

Yesterday 13:16

**  Shares of Keurig Dr Pepper KDP.O down 5.4% at $36.20 premarket on Thurs as it seeks equity raise
** KDP stock could snap a three-session winning streak, if losses hold
** KDP commences $2 bln stock offering
** Co says it intends to use net offering proceeds to repay $2 bln of debt ahead of planned separation into two publicly traded companies, Beverage Co. and Global Coffee Co., targeted to occur in early 2027
** Goldman Sachs and Morgan Stanley joint bookrunners
** KDP last week flagged slower Q4 US coffee profit growth on cautious spending and increased competition from private players
** Through close on Weds, stock up ~37% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com))