Driven Brands Announces Potential Stock Price
Jan. 7, 2021—Today, Driven Brands Holdings Inc., the parent company of a number of auto service brands including Meineke Car Care Centers and Take 5 Oil Change, launched the roadshow for its proposed initial public offering.
According to a press release, Driven Brands, which will be listed on the Nasdaq Global Select Market as "DRVN," is offering 38,000 shares of its common stock, which is expected to go for $17 to $20 per share. The proceeds from the IPO and other cash would go to pay off outstanding debt.
Worldwide, Driven Brands operates 4,100 locations in 15 countries. The company reports $900 million in revenue on $3 billion worth of sales from all its holdings.