Dutch Bros Coffee is going public.

The Oregon-based chain, which has more than 450 stores, announced that it confidentially submitted a draft registration statement to the SEC relating to the proposed IPO of its common stock. The number of shares and the price range for the proposed offering haven’t been determined yet. The company said the IPO would potentially take place after the SEC completes its review process.

Bloomberg reported in early May that Dutch Bros was considering an IPO. At the time, the media outlet said the chain was seeking to be valued around $3 billion and that it was speaking to advisors. The coffee brand has been in expansion mode for a while now. Two and a half years ago, Dutch Bros sold a minority stake to private equity firm TSG Consumer Partners. The plan was to use TSG’s resources and expertise to reach 800 stores in five years, as well as attract talent, employ innovative technology, and use business intelligence and data to advance operations.

The coffee concept was founded in 1992 by Dane and Travis Boersma. It’s known for its specialty coffee, smoothies, freezes, teas, a private-label Dutch Bros Blue Rebel energy drink, and nitrogen-infused cold brew coffee.

Dutch Bros is the second company in as many months to announce its intentions to go public. Krispy Kreme publicized its move in early May, and officially filed on June 1. Unlike Dutch Bros, it will be the doughnut chain’s second foray into the stock market. The 1,500-unit concept was public for 16 years before JAB Holding took it private for $1.35 billion in 2016. Krispy Kreme wants to raise $100 million as part of its IPO.

READ MORE: Krispy Kreme Files IPO, Looks to Raise $100 Million

Other brands have been linked to the IPO market, as well.  The New York Times reported JAB Holding completed an $800 million refinancing for Panera that could “pave the way” for the company to return to the stock market. The global investment firm purchased Panera and took it private for $7.5 billion in 2017. The publication said Panera may not require a traditional IPO, opening the door for a special acquisition company.

Additionally, in March it was reported that Torchy’s Tacos is moving forward with an IPO. The brand is reportedly working with Morgan Stanley, Bank of America Corp, and JPMorgan Chase & Co. Bloomberg said the IPO could happen as soon as this year. However, there hasn’t been a final decision and plans could change. The taco chain could raise about $300 million and be valued at about $1 billion, according to Bloomberg’s sources.

BurgerFi is the most recent restaurant to go public, and it did so through a merger with special acquisition company OPES Acquisition Corp. Also, In February Fertitta Entertainment, which includes Golden Nugget Casinos and Landry’s, agreed to join Fast Acquisition Corp. in a deal that will value the company at $6.6 billion.

Kura Sushi USA, a revolving sushi-style restaurant, went the traditional IPO route in 2019. The concept raised $41 million in its initial public offering. Prior to Kura Sushi, Wingstop and Fogo de Chao went public in 2015. However, Fogo de Chao went private in 2018.