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DRIVEN BRANDS ANNOUNCES LAUNCH OF IPO

01/14/21

Charlotte, NC-based Driven Brands Holdings Inc. has announced that it has launched the roadshow for its proposed initial public offering. Driven Brands is the largest automotive services company in North America, with a portfolio of highly recognizable brands that fulfill an extensive range of consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash.

Driven Brands is offering 38,000,000 shares of its common stock. The initial public offering price is expected to be between $17 and $20 per share. Driven Brands intends to list its common stock on the Nasdaq Global Select Market under the ticker symbol “DRVN.” The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.

Driven Brands intends to use the proceeds from the offering and cash on hand to repay in full the outstanding indebtedness under certain credit facilities and to pay fees and expenses in connection with the offering.



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