Keurig Dr Pepper down as JAB to slash stake further

Keurig Dr Pepper's KDP.O shares down 1.3% in extended trading to $33.59 after secondary offering unveiled

Massachusetts-based beverage co says JAB Holding Co to offload 75 mln shares with JP Morgan as bookrunner

Sale would reduce European investment firm JAB's stake from ~9.9% to 4.4%, or ~59 mln shares

KDP has ~1.36 bln shares outstanding for ~$46.3 bln market cap

In Feb, JAB slashed its stake in a secondary offering priced at $32.80, and three board members affiliated with JAB resigned from the beverage firm's board

KDP's shares on Thurs closed down 1.6% at $34.04

Last week, KDP reported Q1 results above consensus, aided by robust U.S. demand