Black Rifle Coffee slides on stock offering launch

Shares of BRC Inc BRCC.N, known as Black Rifle Coffee Company, down 8% post-market to $1.39 as it seeks equity raise

Veteran-founded coffee seller commences stock offering without disclosing targeted deal size

D.A. Davidson acting as sole bookrunner

BRCC shares on Weds finished up 2.7% at $1.51

Salt Lake City, Utah-based firm has ~215.8 mln shares outstanding for roughly $325 mln market cap, and ~63.3 mln shares of free float, per LSEG data

Through Weds, shares have shed 52% YTD

Of 5 analysts covering BRCC, recommendation breakdown is 3 "strong buy" or "buy" and 2 "hold" and median PT is $2.50 - LSEG