Dutch Bros Inc.
is set to debut on the public markets Wednesday, after the initial public offering of the Oregon-based operator of drive-through shops that serve hot and cold drinks priced overnight at $23 a share, well above the expected range of between $18 and $20 a share. The company sold 21.05 million shares in the IPO to raise $484.2 million. The stock is expected to begin trading Wednesday on the NYSE under the ticker symbol “BROS.” The company is going public at a time that the Renaissance IPO ETF
has gained 7.4% over the past three months, while the S&P 500
has tacked on 4.6%.