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.

BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley are acting as lead book-running managers for the proposed offering. Piper Sandler and William Blair are acting as joint book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on May 10, 2023. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained, when available, by contacting: BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon, Charlotte, North Carolina 28255-0001, or by email at [e-mail]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at [phone] or by email at [e-mail]; Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, telephone: [phone], by fax at [phone] or by emailing [e-mail]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at [phone] or by email at [e-mail]; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014.