Business
The Vita Coco Company, Inc. Announces Secondary Offering of Common Stock by Selling Stockholder
NEW YORK, May 22, 2023 (GLOBE NEWSWIRE) -- The Vita Coco Company, Inc. (Nasdaq: COCO) (“Vita Coco Company”), a leading high-growth platform of better-for-you
About this update from The Vita Coco Company, Inc.
[{"type":"text","content":"NEW YORK, May 22, 2023 (GLOBE NEWSWIRE) -- The Vita Coco Company, Inc. (Nasdaq: COCO) (“Vita Coco Company”), a leading high-growth platform of better-for-you beverage brands, today announced that an existing stockholder, Verlinvest Beverages SA (the “Selling Stockholder”), intends to offer for sale in an underwritten offering 4,500,000 shares of common stock of the Vita Coco Company pursuant to a registration statement on Form S-3 filed by the Vita Coco Company with the Securities and Exchange Commission (the “SEC”). In addition, the Selling Stockholder expects to grant the underwriters a 30-day option to purchase up to 675,000 additional shares at the public offering price less underwriting discounts and commissions. No shares of common stock are being sold by the Vita Coco Company. The Selling Stockholder will receive all of the proceeds from the offering. BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley are acting as lead book-running managers for the proposed offering. Piper Sandler and William Blair are acting as joint book-running managers for the proposed offering. A registration statement relating to these securities has been filed with the SEC and was declared effective on May 10, 2023. This offering will be made only by means of a prospectus supplement and the accompanying prospectus forming a part of the effective shelf registration statement. Before you invest, you should read the prospectus in that registration statement and the documents incorporated by reference in that registration statement, as well as the prospectus supplement related to this offering and the documents incorporated by reference therein. A preliminary prospectus supplement related to the offering (including the accompanying prospectus) will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained, when available, by contacting: BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon, Charlotte, North Carolina 28255-0001, or by email at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at (888) 474-0200 or by email at [email protected]...