Krispy Kreme Lands $3.4B Valuation In Public Markets Return

By McCord Pagan (July 1, 2021, 5:35 PM EDT) -- Krispy Kreme had a strong Nasdaq debut Thursday as its stock price closed up about 21%, giving the company a market valuation of roughly $3.4 billion, following a downsized initial public offering led by three firms.

The doughnut chain, founded in 1937, has now more than doubled its value since it was taken private by a German investment firm five years ago.

Krispy Kreme Inc. sold about 29.4 million shares at $17 each for about $500 million, and its underwriters have a 30-day option to buy an additional 4.4 million shares, which could raise another nearly $75 million. Krispy Kreme remains...

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