Dunkin' Price Set
Canton-based Dunkin' Brands Group Inc. has set the price for its initial public offering at between $16 and $18 per share.
The company said it expects the net proceeds from the sale to be about $348.4 million after expenses, underwriting discounts and commissions. If the underwriters exercise their option to buy extra shares, the total proceeds would reach $401.4 million.
The company plans to use the money, along with $100 million in term loan borrowings and cash, to repay outstanding notes. Any remaining net proceeds would be used for working capital and general corporate purposes.
After the IPO, the company plans to trade on the Nasdaq Global Select Market under the symbol DNKN.
Dunkin' Brands is the parent company of Dunkin' Donuts and Baskin-Robbins.
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