Duckhorn Portfolio Prices 12M Shares Offering By Selling Stockholders At 3.2% Discount

  • Duckhorn Portfolio Inc NAPA reported pricing of a public offering of 12 million shares of its common stock by certain selling stockholders at $20.50 per share.
  • Duckhorn will not receive any proceeds from the sale of shares by stockholders.
  • The offering is expected to close on October 19, 2021, subject to the satisfaction of customary closing conditions.
  • The offer price represents a discount of 3.2% to Duckhorn’s closing price on October 15, 2021.
  • The underwriters have been granted a 30-day option to purchase up to an additional 1.8 million shares of common stock from the selling stockholders at the public offering price.
  • J.P. Morgan, Credit Suisse, and Jefferies are acting as joint lead book-running managers for the proposed offering.
  • Price Action: NAPA shares closed lower by 0.94% at $21.18 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsOfferingsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!