The vita coco company, inc. announces upsizing and pricing of secondary offering of common stock by selling stockholder

New york, may 24, 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 the upsizing and pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $23.00 per share, before deducting underwriting discounts and commissions, all of which are being sold by an existing stockholder, verlinvest beverages sa (the “selling stockholder”). the offering was upsized from the previously announced 4,500,000 shares of common stock. in addition, the selling stockholder has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock 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. the offering is expected to close on may 26, 2023, subject to the satisfaction of customary closing conditions.
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