Krispy Kreme files for IPO

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Wall Street may not want to glaze over this IPO.

rispy Kreme announced Tuesday that it has filed with regulators for an initial public offering. 

The 83-year-old, Winston-Salem, NC-based doughnut chain’s filing seeks to capitalize on the massive level of interest — and money — floating around the stock market right now. Companies raised a record $167 billion in 2020, according to Dealogic data.

The capital raise would come as the company works to turn its fortunes around. Krispy Kreme has been remodeling its stores and opening blockbuster new locations, including one in Times Square. That location clocks in at a whopping 4,500 square feet and features a glaze waterfall and a doughnut-making theater that the company says produces 4,560 doughnuts every hour.

The doughnut maker made waves earlier this year when it announced that people who have been vaccinated against COVID-19 can get a free original glazed doughnut at US shops. The promotion runs through 2021 and customers can return for one free pastry every day, the company announced in March. 

Doughnuts are on display inside the new Krispy Kreme flagship store amid the coronavirus pandemic in Times Square, New York, September 15, 2020.
Doughnuts are on display inside the new Krispy Kreme flagship store amid the coronavirus pandemic in Times Square, New York, September 15, 2020.
TIMOTHY A. CLARY/AFP via Getty Images

The number of shares that will be offered and their price range in Krispy Kreme’s IPO has not yet been determined, the company said. It added that the IPO is expected after the Securities and Exchange Commission completes its review of the company’s proposed filings.

Krispy Kreme’s IPO would bring the company back to the public markets after it was taken private five years ago. 

Krispy Kreme offers a free doughnut to people who have gotten their COVID-19 shots.
Krispy Kreme offers a free doughnut to people who have gotten their COVID-19 shots.
Faris Hadziq/SOPA Images/LightRocket via Getty Images

The company first went public in 2000, but filed for Chapter 11 bankruptcy after a plunge in sales at some franchises and investigations into its accounting practices. German conglomerate JAB Holding then bought the company in a $1.35 billion deal in 2016, taking the chain private. 

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