- 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.
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