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

by Shivani Kumaresan, Benzinga Staff Writer

October 15, 2021 7:07 AM | 1 min read |

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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