# EDGAR Filing Document

**Accession Number:** 0002068577
**File Stem:** 0001493152-26-012358
**Filing Date:** 2026-3
**Character Count:** 54720
**Document Hash:** 7ebe93aea3317e9c87eefff9d4f4eea0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-012358.hdr.sgml**: 20260324

**ACCESSION NUMBER**: 0001493152-26-012358

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260324

**DATE AS OF CHANGE**: 20260324

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Black Rock Coffee Bar, Inc.
- **CENTRAL INDEX KEY:** 0002068577
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING & DRINKING PLACES [5810]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95250
- **FILM NUMBER:** 26786163

**BUSINESS ADDRESS:**
- **STREET 1:** 9170 E. BAHIA DRIVE, SUITE 101
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **BUSINESS PHONE:** (458) 256-9668

**MAIL ADDRESS:**
- **STREET 1:** 9170 E. BAHIA DRIVE, SUITE 101
- **CITY:** SCOTTSDALE
- **STATE:** AZ
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Viking Cake BR, LLC
- **CENTRAL INDEX KEY:** 0002083841

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 9170 E. BAHIA DRIVE
- **STREET 2:** SUITE 101
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85260
- **BUSINESS PHONE:** 503-970-3376

**MAIL ADDRESS:**
- **STREET 1:** 9170 E. BAHIA DRIVE
- **STREET 2:** SUITE 101
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85260

## Ex-9

**Exhibit 9**

***Execution Version***

**DISTRIBUTION AGREEMENT**

This Distribution Agreement (this "***Agreement***"), dated effective as of March 20, 2026 (the "***Effective Date***"), is among Juliet A. Spellmeyer Revocable Trust, Jacob V. Spellmeyer 2021 Trust, Juliet A. Spellmeyer 2021 Trust, Nicole Pereboom, Bryan D. Pereboom 2021 Trust and Nicole R. Pereboom 2021 Trust ("***Holders***") and Viking Cake BR, LLC, a Delaware limited liability company ("***Company***").

**<u>RECITALS</u>**

WHEREAS, Holders are equity holders of Company, holding the units of membership interest in the Company set forth on <u>Schedule A</u> (the "***Membership Units***");

WHEREAS, Company desires to distribute to Holders pro rata shares of Class C common stock, par value $0.00001 per share ("***Class C Common Stock***"), of Black Rock Coffee Bar, Inc. ("***BRCB***"), and an equal number of membership units ("***Black Rock OpCo Units***") of Black Rock Coffee Holdings, LLC ("***Black Rock OpCo***"), which shares and units are set forth on <u>Schedule B</u> (such distribution, the "***Distribution***," and such shares and units, the "***Distributed Shares***");

WHEREAS, in connection with the Distribution, the Members desire to cancel, and Company desires to accept the cancellation of, all of the Membership Units (the "***Cancellation***");

WHEREAS, in connection with the Distribution, Company desires to assign its rights under the Tax Receivable Agreement, dated as of September 11, 2025 (the "***Tax Receivable Agreement***"), by and among BRCB, Black Rock OpCo, and each of the TRA Parties (as defined in the Tax Receivable Agreement) from time to time party thereto, with respect to the Distributed Shares to the Holders; and

WHEREAS, under the Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of July 4, 2023 (as amended by the First Amendment, dated as of February 19, 2025, the "***Company LLCA***"), the Class A Members (as defined in the Company LLCA) have unanimously approved the Distribution and the Cancellation (collectively, the "***Transactions***").

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein made and intending to be legally bound, the parties hereto hereby agree as follows:

**<u>AGREEMENT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Distribution</u>. Company hereby distributes to Holders, and Holders accept, the Distribution, and Company assigns its rights under the Tax Receivable Agreement with respect to the Distributed Shares to the Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Cancellation</u>. Concurrently with the Distribution, the Members hereby cancel, and Company hereby accepts the cancellation of, all of the Membership Units. Upon the Cancellation, the Membership Units shall be deemed cancelled and shall cease to exist, and no consideration shall be payable to the Members in respect thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Statuses After the Transactions</u>. Immediately following the Transactions, Holders will no longer be Members (as defined in the Company LLCA), and Holders will have no rights with respect to the Membership Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Further Assurances. The parties hereto further agree to perform such other acts and to execute, acknowledge, and deliver such other instruments as may reasonably be necessary to effectuate the Transactions, including delivery to the Company of properly endorsed unit certificates representing the Membership Units to facilitate the Cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Governing Law*. This Agreement will in all respects be interpreted, governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict of laws rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Counterparts*. This Agreement may be executed, manually or by electronic means (including via DocuSign or similar), in one or more counterparts, which may be delivered by electronic mail in portable document format (PDF) or other electronic transmission, each of which will be deemed an original and all of which will constitute one and the same Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Entire Agreement*. This Agreement sets forth the entire understanding of the parties to this Agreement regarding the subject matter hereof and supersedes all prior contracts, agreements, arrangements, communications, and discussions, whether oral or written, between the parties regarding the subject matter hereof.

[*Signature pages follow*]

IN WITNESS WHEREOF, the undersigned have executed this Agreement on the Effective Date.

---

| | |
|:---|:---|
| **HOLDERS** | **HOLDERS** |
| **JULIET A. SPELLMEYER REVOCABLE TRUST** | **JULIET A. SPELLMEYER REVOCABLE TRUST** |
| By: | /s/ Juliet A. Spellmeyer |
| Name: | Juliet A. Spellmeyer |
| Title: | Trustee |
| By: | /s/ Jacob V. Spellmeyer |
| Name: | Jacob V. Spellmeyer |
| Title: | Trustee |
| **JACOB V. SPELLMEYER 2021 TRUST** | **JACOB V. SPELLMEYER 2021 TRUST** |
| By: | IconTrust, LLC |
| Its: | Trustee |
| By: | /s/ Andrew Tatay |
| Name: | Andrew Tatay |
| Title: | Trust Officer |
| **JULIET A. SPELLMEYER 2021 TRUST** | **JULIET A. SPELLMEYER 2021 TRUST** |
| By: | IconTrust, LLC |
| Its: | Trustee |
| By: | /s/ Andrew Tatay |
| Name: | Andrew Tatay |
| Title: | Trust Officer |
| /s/ Nicole Pereboom | /s/ Nicole Pereboom |
| **NICOLE PEREBOOM** | **NICOLE PEREBOOM** |

---

[*Signature Page to Distribution Agreement – Pereboom and Spellmeyer Entities*]

---

| | |
|:---|:---|
| **BRYAN D. PEREBOOM 2021 TRUST** | **BRYAN D. PEREBOOM 2021 TRUST** |
| By: | IconTrust, LLC |
| Its: | Trustee |
| By: | /s/ Andrew Tatay |
| Name: | Andrew Tatay |
| Title: | Trust Officer |
| **NICOLE R. PEREBOOM 2021 TRUST** | **NICOLE R. PEREBOOM 2021 TRUST** |
| By: | IconTrust, LLC |
| Its: | Trustee |
| By: | /s/ Andrew Tatay |
| Name: | Andrew Tatay |
| Title: | Trust Officer |

---

[*Signature Page to Distribution Agreement – Pereboom and Spellmeyer Entities*]

---

| | |
|:---|:---|
| **COMPANY** | **COMPANY** |
| **VIKING CAKE BR, LLC** | **VIKING CAKE BR, LLC** |
| By: | /s/ Daniel Brand |
| Name: | Daniel Brand |
| Title: | Manager |

---

[*Signature Page to Distribution Agreement – Pereboom and Spellmeyer Entities*]

**Schedule A**

Membership Units

---

| | | |
|:---|:---|:---|
| **Equity Holder** | **Units** | **Units** |
| Juliet A. Spellmeyer Revocable Trust |  | 250 |
| Jacob V. Spellmeyer 2021 Trust |  | 12375 |
| Juliet A. Spellmeyer 2021 Trust |  | 12375 |
| Nicole Pereboom |  | 250 |
| Bryan D. Pereboom 2021 Trust |  | 12375 |
| Nicole R. Pereboom 2021 Trust |  | 12375 |

---

**Schedule B**

Distributed Shares

---

| | | |
|:---|:---|:---|
| **Holder** | **Shares of Class C <br>Common Stock** | **Black Rock <br>OpCo Units** |
| Juliet A. Spellmeyer Revocable Trust | 29047 | 29047 |
| Jacob V. Spellmeyer 2021 Trust | 1437824 | 1437824 |
| Juliet A. Spellmeyer 2021 Trust | 1437824 | 1437824 |
| Nicole Pereboom | 29047 | 29047 |
| Bryan D. Pereboom 2021 Trust | 1437824 | 1437824 |
| Nicole R. Pereboom 2021 Trust | 1437824 | 1437824 |

---

## Ex-10

**Exhibit 10**

***Execution Version***

**ASSIGNMENT, ASSUMPTION AND OMNIBUS AMENDMENT**

**TO MARGIN LOAN DOCUMENTATION**

This ASSIGNMENT, ASSUMPTION AND OMNIBUS AMENDMENT TO MARGIN LOAN DOCUMENTATION (this "***Amendment***"), dated as of March 23, 2026, is made by and among **vIKING CAKE FUEL, LLC**, a Delaware limited liability company ("***Existing Borrower***"), **VIKING CAKE FUEL II, LLC,** a Delaware limited liability company ("***Existing Pledgor***" and collectively with Existing Borrower, the "***Loan Parties***"), **AUREATA FUEL, LLC**, a Delaware limited liability company ("***Aureata Fuel***"), **VAHALDA FUEL, LLC**, a Delaware limited liability company ("***Vahalda Fuel***" and, together with Aureata Fuel, the "***New Borrowers***"), and **JPMORGAN CHASE BANK, N.A.**, as administrative agent ("***Administrative Agent***") and a Lender.

WITNESSETH:

**WHEREAS**, reference is made to that certain Margin Loan Agreement dated as of September 11, 2025, by and among Existing Borrower, Existing Pledgor, Administrative Agent and Lenders party thereto, as amended by that certain First Amendment to Margin Loan Agreement dated as of February 17, 2026 (as amended, modified or supplemented up to the date hereof, the "***Existing Margin Loan Agreement***"). Capitalized terms used but not defined herein shall have the meanings assigned in the Existing Margin Loan Agreement;

**WHEREAS**, Viking Cake BR, LLC, a Delaware limited liability company ("***Viking Cake BR***") is the sole member and direct holder of 100% of the limited liability company interests of Existing Borrower;

**WHEREAS**, Aureata Fuel and Vahalda Fuel each own 25% of the limited liability company interests in Viking Cake BR directly (the "***Aureata BR Interests***" and "***Vahalda BR Interests***", respectively) and therefore, each indirectly owns an economic interest in certain Collateral Shares pledged to Administrative Agent for the benefit of the Lenders pursuant to that certain Pledge Agreement dated as of September 11, 2025, by and among Existing Borrower, Existing Pledgor, Administrative Agent and Lenders party thereto (as amended, modified or supplemented up to the date hereof, the "***Existing Pledge Agreement***" and such Collateral Shares, the "***Aureata Collateral Shares***" and "***Vahalda Collateral Shares***", respectively) held by Existing Borrower and pledged to Administrative Agent for the benefit of the Lenders;

**WHEREAS**, as ultimate beneficial owners of the Existing Borrower, the Co-Founders desire to (i) cause Existing Borrower to distribute the Aureata Collateral Shares and the Vahalda Collateral Shares to Viking Cake BR without any consideration and (ii) cause Viking Cake BR to exchange the Aureata Collateral Shares for the Aureata BR Interests and exchange the Vahalda Collateral Shares for the Vahalda BR Interests (the "***Reorganization***");

**WHEREAS**, the Required Lenders are willing to consent to the Reorganization; *provided* that, in addition to the other conditions set forth herein, (i) Aureata Fuel and Vahalda Fuel each assume its Pro Rata Share (as defined below) of the Obligations (including, for the avoidance of doubt, its obligation to pay its Pro Rata Share of the Total Accrued Loan Amount), (ii) the Aureata Collateral Shares and the Vahalda Collateral Shares remain pledged to Administrative Agent for the benefit of the Lenders and (iii) the Loan Parties and New Borrowers enter into the revised Margin Loan Documentation described in ***Section 2.01 (b)-(d)*** (the "***Revised Margin Loan Documentation***") such that each Co-Founder has the same economic exposure to the Collateral and the Obligations after giving effect to this Amendment, as each such Co-Founder had under the Existing Margin Loan Agreement;

**WHEREAS**, pursuant to *Section 8.01* of the Existing Margin Loan Agreement, to effect the transactions contemplated hereby, this Amendment must be approved by the Required Lenders and the Loan Parties and acknowledged by the Administrative Agent; and

**WHEREAS**, the undersigned Lenders constitute the Required Lenders and their signatures hereto constitute their approval of this Amendment.

**NOW THEREFORE, FOR VALUE RECEIVED**, the sufficiency of which is hereby acknowledged, the parties hereto agree to consummate this Amendment by entering into the Revised Margin Loan Documentation, as follows:

1. Assignments and Assumptions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 As of the date hereof, Existing Borrower hereby irrevocably assigns to Aureata Fuel, and Aureata Fuel hereby irrevocably assumes from Existing Borrower, (a) (i) all of Existing Borrower's rights and Obligations in its capacity as "Borrower" under the Existing Margin Loan Agreement and (ii) all of Existing Borrower's rights, including its rights in the Collateral and its obligations, including the Secured Obligations, in its capacity as "Pledgor" under the Existing Pledge Agreement, in the case of each of clauses (i) and (ii), solely with respect to Aureata Fuel's Pro Rata Share of such rights, Obligations, Collateral and Secured Obligations (the "*Aureata Fuel Assigned Interest*") and (b) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of Existing Borrower with respect to the Aureata Fuel Assigned Interest. Such assignment is without recourse to Existing Borrower and, except as expressly provided in this Amendment, without representation or warranty by Existing Borrower. Aureata Fuel's "*Pro Rata Share*" is 21.29118645911460%.<sup>1</sup> Subject to the satisfaction of the conditions in *Section 2* hereof, the Administrative Agent and the Lenders each consent to the foregoing assignment and assumption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.02 As of the date hereof, Existing Borrower hereby irrevocably assigns to Vahalda Fuel, and Vahalda Fuel hereby irrevocably assumes from Existing Borrower, (a) (i) all of Existing Borrower's rights and Obligations in its capacity as "Borrower" under the Existing Margin Loan Agreement and (ii) all of Existing Borrower's rights, including its rights in the Collateral and its obligations, including the Secured Obligations, in its capacity as "Pledgor" under the Existing Pledge Agreement, in the case of each of clauses (i) and (ii), solely with respect to Vahalda Fuel's Pro Rata Share of such rights, Obligations, Collateral and Secured Obligations (the "*Vahalda Fuel Assigned Interest*") and (b) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of Existing Borrower with respect to the Vahalda Fuel Assigned Interest. Such assignment is without recourse to Existing Borrower and, except as expressly provided in this Amendment, without representation or warranty by Existing Borrower. Vahalda Fuel's "*Pro Rata Share*" is 21.29118645911460%.<sup>2</sup> Subject to the satisfaction of the conditions in *Section 2* hereof, the Administrative Agent and the Lenders each consent to the foregoing assignment and assumption.

<sup>1</sup> 25% of (i) Borrower's Collateral divided by (ii) Borrower's Collateral + Pledgor's Collateral.

<sup>2</sup> 25% of (i) Borrower's Collateral divided by (ii) Borrower's Collateral + Pledgor's Collateral.

2. **Effectiveness.** The effectiveness of this Amendment is subject to satisfaction of the following conditions precedent, unless waived by the Administrative Agent and each Lender party thereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01 Administrative Agent and each Lender shall have received each of the following documents, duly executed, where applicable, in each case, in form and substantive reasonably satisfactory to Administrative Agent and each of the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) duly executed counterparts of this Amendment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Amended and Restated Margin Loan Agreement in the form of ***Exhibit A-1***, duly executed by the Loan Parties (the "***Amended and Restated Margin Loan Agreement***"), (ii) Amended and Restated Pledge Agreement in the form of ***Exhibit B-1***, duly executed by the Loan Parties (the "***Amended and Restated Pledge Agreement***") and (iii) Amended Issuer Consent in the form of ***Exhibit C-1***, duly executed by the Loan Parties and the Issuer (the "***Amended and Restated Issuer Consent***");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) Margin Loan Agreement in the form of ***Exhibit A-2***, duly executed by Aureata Fuel (the "***Aureata Fuel Margin Loan Agreement***"), (ii) Pledge Agreement in the form of ***Exhibit B-2***, duly executed by Aureata Fuel (the "***Aureata Fuel Pledge Agreement***"), and (iii) Issuer Consent in the form of ***Exhibit C-2***, duly executed by Aureata Fuel and the Issuer (the "***Aureata Fuel Issuer Consent***"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) Margin Loan Agreement in the form of ***Exhibit A-3***, duly executed by Vahalda Fuel (the "***Vahalda Fuel Margin Loan Agreement***"), (ii) Pledge Agreement in the form of ***Exhibit B-3***, duly executed by Vahalda Fuel (the "***Vahalda Fuel Pledge Agreement***"), and (iii) Issuer Consent in the form of ***Exhibit C-3***, duly executed by Vahalda Fuel and the Issuer (the "***Vahalda Fuel Issuer Consent***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.02 (a) Each of the conditions precedent contained in *Article III* of the Amended and Restated Margin Loan Agreement shall have been satisfied, unless waived by Administrative Agent and Lender (as such terms are defined in the Amended and Restated Margin Loan Agreement); and (b) each of the representations and warranties contained in (i) *Article IV* of the Amended and Restated Margin Loan Agreement and (ii) *Section 5* of the Amended and Restated Pledge Agreement, shall be true and correct in all material respects (<u>provided</u> that any such representation and warranty that is qualified as to "materiality", "Material Adverse Effect" or similar language shall be true and correct in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.03 (a) Each of the conditions precedent contained in *Article III* of the Aureata Fuel Margin Loan Agreement shall have been satisfied, unless waived by Administrative Agent and Lender (as such terms are defined in the Aureata Fuel Margin Loan Agreement); and (b) each of the representations and warranties contained in (i) *Article IV* of the Aureata Fuel Margin Loan Agreement and (ii) *Section 5* of the Aureata Fuel Pledge Agreement, shall be true and correct in all material respects (<u>provided</u> that any such representation and warranty that is qualified as to "materiality", "Material Adverse Effect" or similar language shall be true and correct in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.04 (a) Each of the conditions precedent contained in *Article III* of the Vahalda Fuel Margin Loan Agreement shall have been satisfied, unless waived by Administrative Agent and Lender (as such terms are defined in the Vahalda Fuel Margin Loan Agreement); and (b) each of the representations and warranties contained in (i) *Article IV* of the Vahalda Fuel Margin Loan Agreement and (ii) *Section 5* of the Vahalda Fuel Pledge Agreement, shall be true and correct in all material respects (<u>provided</u> that any such representation and warranty that is qualified as to "materiality", "Material Adverse Effect" or similar language shall be true and correct in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05 Following the execution and delivery of this Amendment and the consummation of the transactions contemplated hereby, (a) Aureata Fuel assumes the Aureata Fuel Assigned Interest, (b) Vahalda Fuel assumes the Vahalda Fuel Assigned Interest, and (c) after giving effect to the Reorganization, the Administrative Agent's (as Secured Party for the benefit of the Lenders) Lien and security interest under the Margin Loan Documentation (as amended, modified or supplemented up to the date hereof, the "*Existing Margin Loan Documentation*") is extended and remains attached to the Collateral to be held by Aureata Fuel and Vahalda Fuel pursuant to the Revised Margin Loan Documentation to which each of Aureata Fuel and Vahalda Fuel is party.

3. **Ratification.** Each Loan Party (a) ratifies and confirms all provisions of the Existing Margin Loan Documentation as amended and restated by this Amendment, (b) ratifies and confirms that all Liens granted, conveyed, or assigned to Administrative Agent under the applicable Existing Margin Loan Documentation are not released, reduced, or otherwise adversely affected by this Amendment and continue to secure full payment and performance of the present and future Obligations, and (c) agrees to perform such acts and duly authorize, execute, acknowledge, deliver, file, and record such additional documents, and certificates as any Lender may request in order to create, perfect, preserve, and protect those guaranties, assurances, and Liens.

4. **Representations and Warranties.** Each Loan Party and each of Aureata Fuel and Vahalda Fuel, does hereby represent and warrant to each Lender that (a) the execution, delivery and performance of this Amendment (i) are within such Person's company powers, have been duly authorized by all necessary action under such Person's Constituent Documents and applicable Law, (ii) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, (iii) will not contravene such Person's Constituent Documents or violate any order of any Governmental Authority, (iv) do not contravene any contractual restriction binding on it or require any consent under any agreement or instrument to which it is a party or by which any of its properties or assets is bound, including without limitation, the OpCo LLCA and the Constituent Documents of the Issuer (including the Insider Trading Policy), (v) will not result in or require the creation or imposition of any Liens upon any property or assets of any such Person other than Permitted Liens, and (vi) will not violate any Law (including, but not limited to, the Securities Act of 1933 and the Exchange Act and the regulations thereunder) or any writ, judgment, injunction, determination or award; (b) this Amendment has been duly executed and delivered by such Person and constitutes the legal, valid and binding obligations of such Person enforceable against such Person in accordance with its terms; (c) in respect of Existing Borrower and Existing Pledgor, there have been no changes to the Constituent Documents of such Person since September 11, 2025; and (d) such Person is not entering into this Amendment on the basis of MNPI with respect to the Shares, the Issuer, the OpCo Units or OpCo.

5. Release. EACH LOAN PARTY DOES HEREBY VOLUNTARILY AND KNOWINGLY RELEASE AND FOREVER DISCHARGE EACH LENDER PARTY AND ITS PREDECESSORS, ATTORNEYS, AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY (INCLUDING, WITHOUT LIMITATION, CLAIMS OF FRAUD, DURESS, MISTAKE, TORTIOUS INTERFERENCE, USURY, BREACH OF FIDUCIARY DUTY, BREACH OF DUTY OF FAIR DEALING, BREACH OF CONFIDENCE, BREACH OF FUNDING COMMITMENT, UNDUE INFLUENCE, NEGLIGENCE OR FRAUD IN RATES AND METHODS USED TO COMPUTE INTEREST, DECEPTIVE TRADE PRACTICE OR THE RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS ACT, OR ANY OTHER LENDER LIABILITIES), ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE OF THIS AMENDMENT, WHICH SUCH LOAN PARTY MAY NOW OR HEREAFTER HAVE AGAINST ANY LENDER PARTY OR ITS PREDECESSORS, ATTORNEYS, AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY EXISTING MARGIN LOAN DOCUMENTATION, INCLUDING, WITHOUT LIMITATION, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER ANY EXISTING MARGIN LOAN DOCUMENTATION, AND NEGOTIATION FOR, AND EXECUTION OF, THIS AMENDMENT.

6. **Miscellaneous.** Unless stated otherwise (a) the singular number includes the plural and vice versa and words of any gender include each other gender, in each case, as appropriate, (b) headings and captions may not be construed in interpreting provisions, (c) this Amendment shall be governed by, and construed in accordance with, the law of the State of New York, (d) if any part of this Amendment is for any reason found to be unenforceable, all other portions of it nevertheless remain enforceable, and (e) this Amendment may be executed in any number of counterparts with the same effect as if all signatories had signed the same document, and all of those counterparts must be construed together to constitute the same document.

7. **ENTIRE AGREEMENT.** **THIS AMENDMENT REPRESENTS THE FINAL AGREEMENT AMONG THE PARTIES ABOUT THE SUBJECT MATTER OF THIS AMENDMENT AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.**

8. **Parties.** This Amendment shall be binding upon and inure to the benefit of the Loan Parties, Aureata Fuel, Vahalda Fuel and the Lender Parties, and their respective successors and permitted assigns.

9. **Margin Loan Documentation.** Each party hereto acknowledges and agrees that this Amendment constitutes "Margin Loan Documentation" in respect of the Amended and Restated Margin Loan Agreement, the Aureata Margin Loan Agreement and the Vahalda Margin Loan Agreement, and is subject to *Section 8.03* thereof.

[END OF TEXT – SIGNATURE PAGES FOLLOW]

**IN WITNESS WHEREOF,** this Amendment has been duly executed and delivered by the parties as of the date and year first written above.

---

| | |
|:---|:---|
| **<u>EXISTING BORROWER</u>:** | **<u>EXISTING BORROWER</u>:** |
| **Viking Cake fuel, llc,** | **Viking Cake fuel, llc,** |
| By: | /s/ Daniel Brand |
| Name: | Daniel Brand |
| Title: | COO |

---

[***Additional signature page follows***]

Signature Page to Assignment, Assumption and Omnibus Amendment

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| | |
|:---|:---|
| **<u>EXISTING PLEDGOR</u>:** | **<u>EXISTING PLEDGOR</u>:** |
| **Viking Cake fuel II, llc,** | **Viking Cake fuel II, llc,** |
| By: | /s/ Daniel Brand |
| Name: | Daniel Brand |
| Title: | COO |

---

[***Additional signature page follows***]

Signature Page to Assignment, Assumption and Omnibus Amendment

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| | |
|:---|:---|
| **<u>NEW BORROWER</u>:** | **<u>NEW BORROWER</u>:** |
| **AUREATA FUEL, LLC,** | **AUREATA FUEL, LLC,** |
| By: | /s/ Gordon Scharf |
| Name: | Gordon Scharf |
| Title: | CEO |

---

[***Additional signature page follows***]

Signature Page to Assignment, Assumption and Omnibus Amendment

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| | |
|:---|:---|
| **<u>NEW BORROWER</u>:** | **<u>NEW BORROWER</u>:** |
| **VAHALDA FUEL, LLC,** | **VAHALDA FUEL, LLC,** |
| By: | /s/ Brandon Olson |
| Name: | Brandon Olson |
| Title: | Manager |

---

[***Additional signature page follows***]

Signature Page to Assignment, Assumption and Omnibus Amendment

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| | |
|:---|:---|
| **JPMORGAN CHASE BANK, N.A.,** | **JPMORGAN CHASE BANK, N.A.,** |
| as Administrative Agent and a Lender | as Administrative Agent and a Lender |
| By: | /s/ Jeffrey Davidovitch |
| Name: | Jeffrey Davidovitch |
| Title: | Managing Director |

---

Signature Page to Assignment, Assumption and Omnibus Amendment

**ANNEX A-1**

**Amended and Restated Margin Loan Agreement**

Annex A-1

**ANNEX A-2**

**Aureata Fuel Margin Loan Agreement**

Annex A-2

**ANNEX A-3**

**Vahalda Fuel Margin Loan Agreement**

Annex A-3

**ANNEX B-1**

**Amended and Restated Pledge Agreement**

Annex B-1

**ANNEX B-2**

**Aureata Fuel Pledge Agreement**

Annex B-2

**ANNEX B-3**

**Vahalda Fuel Pledge Agreement**

Annex B-3

**ANNEX C-1**

**Amended and Restated Issuer Consent**

Annex C-1

**ANNEX C-2**

**Aureata Fuel Issuer Consent**

Annex C-2

**ANNEX C-3**

**Vahalda Fuel Issuer Consent**

Annex C-3

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Black Rock Coffee Bar, Inc.**

*(Name of Issuer)*

**Class A Common Stock**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**c/o Viking Cake BR, LLC**<br>18625 Macalpine Loop<br>Bend OR 97702<br>503-970-3376

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**03/20/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Viking Cake BR, LLC** | Name of reporting person<br>**Viking Cake BR, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**24.9%** | Percent of class represented by amount in Row (11)<br>**24.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Amount in rows 7 and 9 consists of membership units ("LLC Units") of Black Rock Coffee Holdings, LLC ("Black Rock OpCo") and an equal number of shares of Class C Common Stock of Black Rock Coffee Bar, Inc. (the "Issuer") held by Viking Cake Fuel, LLC, which is a wholly owned subsidiary of Viking Cake BR, LLC. Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Issuer's election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled.

The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 23,287,843 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 5,809,391 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units).

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Viking Cake Fuel, LLC** | Name of reporting person<br>**Viking Cake Fuel, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**24.9%** | Percent of class represented by amount in Row (11)<br>**24.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Amount in rows 7 and 9 consists of LLC Units of Black Rock OpCo and an equal number of shares of Class C Common Stock of the Issuer held by Viking Cake Fuel, LLC. Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Issuer's election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled.

The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 23,287,843 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 5,809,391 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units).

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Daniel Brand** | Name of reporting person<br>**Daniel Brand** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**11587473.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**11587473.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**11587473.00** | Aggregate amount beneficially owned by each reporting person<br>**11587473.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**39.9%** | Percent of class represented by amount in Row (11)<br>**39.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Amount in rows 7 and 9 consists of (a) 2,767,111 LLC Units held by the Jeffrey R. Hernandez 2021 Trust, (b) 3,010,971 LLC Units held by the Tiffany S. Hernandez 2021 Trust (together with the Jeffrey R. Hernandez 2021 Trust, the "Hernandez Irrevocable Trusts"), and (c) 5,809,391 LLC Units held by Viking Cake Fuel, LLC, which is a wholly owned subsidiary of Viking Cake BR, LLC (collectively, "Viking Cake"). Mr. Brand serves as the investment advisor for the Hernandez Irrevocable Trusts. As investment advisor, Mr. Brand may be deemed to hold voting and investment power with respect to the shares held by the Hernandez Irrevocable Trusts. Mr. Brand disclaims beneficial ownership of the shares held by the Hernandez Irrevocable Trusts and Viking Cake except to the extent of his pecuniary interest therein. On February 25, 2026, Mr. Brand was removed as the investment advisor for the Jacob V. Spellmeyer 2021 Trust, the Juliet A. Spellmeyer 2021 Trust and the Nicole R. Pereboom 2021 Trust. On February 26, 2026, Mr. Brand was removed as the investment advisor for the Bryan D. Pereboom 2021 Trust. As a result of the removal, Mr. Brand no longer holds voting or investment power with respect to the shares held by the Jacob V. Spellmeyer 2021 Trust, the Juliet A. Spellmeyer 2021 Trust, the Nicole R. Pereboom 2021 Trust or the Bryan D. Pereboom 2021 Trust.

Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Issuer's election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled.

The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 29,065,925 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 11,587,473 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units).

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jeffrey Hernandez** | Name of reporting person<br>**Jeffrey Hernandez** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5809391.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | Aggregate amount beneficially owned by each reporting person<br>**5809391.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**24.9%** | Percent of class represented by amount in Row (11)<br>**24.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Amount in rows 7 and 9 consists of LLC Units of Black Rock OpCo and an equal number of shares of Class C Common Stock of the Issuer held by Viking Cake BR, LLC. Viking Cake BR, LLC's managers are Jeffrey Hernandez and Daniel Brand. As a result, Messrs. Hernandez and Brand may be deemed to hold voting and investment power with respect to the shares held by Viking Cake BR, LLC.

Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Issuer's election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled. Mr. Hernandez disclaims beneficial ownership of the shares held by Viking Cake BR, LLC except to the extent of his pecuniary interest therein.

The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 23,287,843 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 5,809,391 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Bryan Pereboom** | Name of reporting person<br>**Bryan Pereboom** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**29046.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**29046.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**29046.00** | Aggregate amount beneficially owned by each reporting person<br>**29046.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.2%** | Percent of class represented by amount in Row (11)<br>**0.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Amount in rows 7 and 9 consists of LLC Units of Black Rock OpCo and an equal number of shares of Class C Common Stock of the Issuer held by Mr. Pereboom's spouse, as an equity owner of Aureata Fuel, LLC. As a result, Mr. Pereboom may be deemed to hold voting and investment power with respect to the shares held by his spouse.

Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Issuer's election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled. Mr. Pereboom disclaims beneficial ownership of the shares beneficially owned by his spouse except to the extent of his pecuniary interest therein.

The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 17,507,498 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 29,046 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jacob Spellmeyer** | Name of reporting person<br>**Jacob Spellmeyer** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock

**(b) Name of Issuer:**
Black Rock Coffee Bar, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
9170 E. Bahia Drive, Suite 101, Scottsdale, AZ, 85260

This Amendment No. 2 to the statement on Schedule 13D (this "Amendment") amends the Schedule 13D originally filed with the Securities and Exchange Commission on December 22, 2025, as amended by Amendment No. 1 filed on December 30, 2025 (as so amended prior to the date hereof, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"). Capitalized terms used in this Amendment and not otherwise defined herein shall have the same meanings ascribed to them in the Original Schedule 13D. Except as otherwise provided herein, each Item of the Original Schedule 13D remains unchanged.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended to add the following:

On March 20, 2026:

(1) Viking Cake Fuel, LLC transferred a total of 5,809,390 shares of Class C Common Stock and an equal number of LLC Units to Viking Cake BR, LLC.

(2) Viking Cake BR, LLC distributed a total of 5,809,390 shares of Class C Common Stock and an equal number of LLC Units in a concurrent cancellation of all of the units of membership interest in Viking Cake BR, LLC of certain of its members. As a result of the distribution, Jake Spellmeyer and Bryan Pereboom are no longer beneficial owners of more than five percent of the Class A Common Stock.

On March 23, 2026:

(1) Viking Cake Fuel, LLC entered into an amendment to the Margin Loan whereby Aureata Fuel, LLC and Vahalda Fuel, LLC, as new borrowers, each assumed its pro rata share of the loan obligations.

**Item 5. Interest in Securities of the Issuer**

**(a)**
See Items 11 and 13 of each cover page.

**(b)**
See Items 7, 8, 9 and 10 of each cover page.

**(c)**
Except as set forth in Item 4 of this Amendment, which information is incorporated by reference into this Item 5(c), the Reporting Persons have not effected any transactions of the Class A Common Stock during the 60 days preceding the date of this report.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Viking Cake BR, LLC

**Signature:** /s/ Daniel Brand

**Name/Title:** Daniel Brand, Manager

**Date:** 03/24/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Viking Cake Fuel, LLC

**Signature:** /s/ Jeffrey Hernandez

**Name/Title:** Jeffrey Hernandez, Manager of Viking Cake BR, LLC, its Member

**Date:** 03/24/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Daniel Brand

**Signature:** /s/ Daniel Brand

**Name/Title:** Daniel Brand

**Date:** 03/24/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jeffrey Hernandez

**Signature:** /s/ Jeffrey Hernandez

**Name/Title:** Jeffrey Hernandez

**Date:** 03/24/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Bryan Pereboom

**Signature:** /s/ Bryan Pereboom

**Name/Title:** Bryan Pereboom

**Date:** 03/24/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jacob Spellmeyer

**Signature:** /s/ Jacob Spellmeyer

**Name/Title:** Jacob Spellmeyer

**Date:** 03/24/2026