Krispy Kreme Inc. priced its initial public offering at $17 a share late Wednesday, significantly below their expected range of $21 to $24 a share.
The doughnut chain plans to sell 29.4 million shares, raising about $500 million.
Shares are expected to begin trading Thursday on the Nasdaq under the ticker symbol “DNUT” DNUT.
Kirspy Kreme was a public company from 2000 to 2016, so the IPO will mark the return of the company to the public markets.
There are 19 underwriters on the IPO, with J.P. Morgan, Morgan Stanley, BofA Securities and Citigroup the lead book-running managers.