Driven Brands Holdings Inc. has announced the pricing of its initial public offering of 31,818,182 shares of its common stock at a price to the public of US$22 per share. Driven Brands is the largest automotive services company in North America, with a portfolio of highly recognizable brands that fulfill an extensive range of consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash. Driven Brands has granted the underwriters a 30-day option to purchase up to an additional 4,772,727 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on January 15, 2021, under the ticker symbol “DRVN,” and the offering is expected to close on January 20, 2021, subject to customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Ian Schuman and Stelios Saffos, with counsel Charles Cassidy and associates Salvatore Vanchieri, Milo LeDoux, and Angel Marcial.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.