Black Rock Coffee Bar Announces Payoff of Founders’ Margin Loan and Investment by Cynosure

Margin Loan fully repaid and extinguished with no remaining obligations

SCOTTSDALE, Ariz., May 18, 2026 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar, Inc. (Nasdaq: BRCB) (“Black Rock Coffee Bar” or the “Company”) today announced that entities and trusts affiliated with its founders (the “Founders”) have consummated a transaction with certain entities advised by The Cynosure Group, LLC (collectively, “Cynosure”) pursuant to which Cynosure purchased all of the equity interests in the Company and Black Rock Coffee Holdings, LLC that were pledged by the Founders as collateral for their margin loan entered into in connection with the Company’s initial public offering. As a result of the transaction, the margin loan is now fully extinguished, and Cynosure has acquired approximately 13.6 million shares of Black Rock Coffee Bar common stock. The Company’s founders, Daniel Brand and Jeff Hernandez, who have been instrumental in building Black Rock’s differentiated brand and culture, remain active members of the Company’s board of directors and continue to be meaningful shareholders following the transaction.

“We are pleased to expand our partnership with Cynosure through this transaction, which resolves the margin loan in full. Cynosure has been an exceptional partner to the Company, and their expanded investment underscores our shared conviction in the durability of our model and the significant white space opportunity we believe is ahead. I remain incredibly optimistic about Black Rock Coffee Bar’s trajectory as we continue to execute on our goals, including strategic growth initiatives and expansion of our presence across markets,” said Mark Davis, Chief Executive Officer of Black Rock Coffee Bar.

“We are excited to deepen our partnership with the Black Rock Coffee Bar team,” said Andrew Braithwaite, Managing Director at Cynosure. “We have strong conviction in the Company’s concept, compelling unit economics, and leadership team, and we view this transaction as an opportunity to double down on a fast-growing, differentiated concept that delivers an exceptional guest experience, leading with a strong people-oriented culture. Black Rock has continued to demonstrate strong performance, and we believe the Company is well-positioned to capitalize on its significant long-term growth opportunity. We look forward to supporting the team as they continue to scale the business and build on our long-standing partnership.”

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