Krispy Kreme goes public with IPO plans

Krispy Kreme Inc. disclosed Tuesday its filing for an initial public offering of common stock, but has not yet determined the terms. The North Carolina-based doughnut seller had filed confidentially for an IPO in early-March, as it looks to return to the public markets after a five-year absence. The company was public from 2000 to 2016. There are 19 underwriters for Krispy Kreme’s IPO, with J.P. Morgan, Morgan Stanley, BofA Securities and Citigroup the lead book-running managers. The company expects the stock to trade on the Nasdaq under the ticker symbol “DNUT.” The company recorded a net loss of $64.3 million on revenue of $1.12 billion for the fiscal year ended Jan. 3, 2021, compared with a loss of $37.4 million on revenue of $959.4 million for the year ended Dec. 29, 2019. The company is looking to go public at a time that the Renaissance IPO ETF has lost 11.3% over the past three months while the S&P 500 has gained 7.8%.

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