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Driven Brands Announces Pricing of Secondary Offering
CHARLOTTE, N.C., Sept. 13, 2022 /PRNewswire/ -- Driven Brands Holdings Inc. ("Driven Brands" or the "Company") (NASDAQ: DRVN), announced today the pricing of
About this update from Driven Brands Holdings Inc.
[{"type":"text","content":"CHARLOTTE, N.C., Sept. 13, 2022 /PRNewswire/ -- Driven Brands Holdings Inc. (\"Driven Brands\" or the \"Company\") (NASDAQ: DRVN), announced today the pricing of the previously announced underwritten secondary offering by certain of the Company's stockholders that are affiliates of Roark Capital Management, LLC (the \"Selling Stockholders\") of 7,000,000 shares of Driven Brands common stock (the \"Offering\"). The Selling Stockholders will receive all of the proceeds from the Offering. Driven Brands is not selling any shares of common stock in the Offering and will not receive any proceeds from the Offering.\nBofA Securities and Morgan Stanley are acting as underwriters for the Offering. The underwriters for the Offering may offer the shares of common stock for sale from time to time directly or through agents, or through brokers in one or more brokerage transactions on NASDAQ, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.\nAn automatic shelf registration statement relating to the Offering was filed with the Securities and Exchange Commission on September 12, 2022 and became effective upon filing. This Offering was made only by means of a preliminary prospectus supplement and an accompanying base prospectus, copies of which may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, Email: [email protected]; and Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering may also be obtained free of charge by visiting EDGAR on the SEC website at www.sec.gov.\nThis press release shall not constitute an offer to sell, or the solicitation of an offer, to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Driven Brands Holdings Inc.Driven Brands™, headquartered in Charlotte, NC, is the largest auto...