Driven Brands Holdings, North America's largest automotive services company with more than 4,100 locations, raised $700 million by offering 31.8 million shares at $22, above the range of $17 to $20. The company offered 6.2 million fewer shares than anticipated. At pricing, the company commands a fully diluted market value of $3.6 billion.
Driven Brands Holdings plans to list on the Nasdaq under the symbol DRVN. Morgan Stanley, BofA Securities, Goldman Sachs, J.P. Morgan, Barclays, Credit Suisse, Baird, Piper Sandler, and William Blair acted as lead managers on the deal.
