Cynosure buys 14 million Black Rock Coffee Bar shares in founders’ margin-loan deal

Black Rock Coffee Bar, Inc. Class A

Black Rock Coffee Bar, Inc. Class A

BRCB

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  • Black Rock Coffee Bar disclosed a transaction in which entities advised by Cynosure bought all equity interests pledged by the founders as collateral for their IPO-related margin loan.
  • The margin loan was fully repaid and extinguished with no remaining obligations.
  • Cynosure acquired about 13.6 million shares of common stock through the transaction.
  • Founders Daniel Brand and Jeff Hernandez remain on the board, retaining meaningful shareholdings.


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