Vita Coco Company Announces Upsizing and Pricing of Secondary Offering of Common Stock

NEW YORK, May 24, 2023 (GLOBE NEWSWIRE) — The Vita Coco Company, Inc. (Nasdaq: COCO), 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 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.

About The Vita Coco Company

The Vita Coco Company was co-founded in 2004 by Chairman Michael Kirban and Ira Liran. Pioneers in the functional beverage category, The Vita Coco Company’s brands include the leading coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. With its ability to harness the power of people and plants, while balancing purpose and profit, The Vita Coco Company has created a modern beverage platform built for current and future generations.

The company is a Public Benefit Corporation in Delaware and is a Certified B Corporation.™

About Verlinvest

Verlinvest is an international, family-backed evergreen investment company. It identifies inflection points in consumer behaviors and partners with the businesses driving these consumer revolutions forward. Established in 1995, with offices in Brussels, London, New York, Mumbai, and Singapore, Verlinvest focuses on the FMCG, health, consumer technology and lifestyle categories, investing across three strategies: Platform, Growth & Venture. Its portfolio includes the likes of Oatly, Vita Coco, Tony’s Chocolonely, BYJU’s, Bludental and Toluna, alongside alumni, Vitaminwater and Remy Cointreau.