Dunkin’ Brands Group Inc. (NASDAQ: DNKN) announced this morning that it would increase both the number of shares offered and the share price on a secondary offering by “certain of its shareholders.” The initial announcement of a secondary offering came last November, when the company said it would sell 22 million shares at $25.62/share.
Today’s announcement boosted the offering to 26.4 million shares at a price of $29.50/share. The underwriters have a 30-day over-allotment option on 3.96 million additional shares.
All proceeds from the sale will go to the selling shareholders.
Dunkin’ shares closed at $30.06 yesterday in a 52-week range of $23.24-$32.44. Shares are down about -0.8% in the pre-market this morning at $29.82.
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