India, Nov. 12 -- On Thursday, Keurig Dr Pepper (KDP) announced a public offering of $2 billion worth of its common stock, which is listed on the Nasdaq under the ticker KDP.
Keurig Dr Pepper may allow underwriters to purchase an additional $300 million in shares within 30 days.
The company plans to use the $2 billion raised from the offering to repay or buy back existing debt, reduce its debt ahead of its planned 2027 split into two separate companies, Beverage Co. and Global Coffee Co., and strengthen both companies' financial positions.
On Nasdaq, the shares are trading 6.25 percent down at $35.86.
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