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Labaton Sucharow, a prominent shareholder rights firm, is investigating Vintage Wine Estates (NASDAQ: VWE, VWEWW, BSPE) for potential violations of federal securities laws. The focus is on allegations of misleading statements and lack of disclosure by the company. A significant concern arises from a press release dated September 13, 2022, revealing $19.1 million in non-cash inventory adjustments, which contributed to a larger fourth-quarter loss. Following this announcement, Vintage Wine's shares dropped over 40% on September 14, 2022.
Vintage Wine Estates has successfully merged with Bespoke Capital Acquisition Corp. (NASDAQ: BSPE), finalizing the business combination on June 8, 2021. The merged entity will now trade on the Nasdaq under the ticker symbol VWE. The transaction, approved by shareholders, has provided VWE with approximately $306 million in cash proceeds. This capital will support the company's growth through acquisitions and organic strategies. Pat Roney continues as CEO, and the new board includes industry veterans like Paul Walsh as non-executive Chairman.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) has received shareholder approval for its merger with Vintage Wine Estates (VWE), a leading U.S. wine producer. The vote occurred during a recent meeting on May 28, 2021. Following the merger, expected to finalize around June 7, 2021, the combined entity will operate under the name Vintage Wine Estates, Inc. The decision also included BCAC’s domestication from British Columbia to Nevada. The merger is anticipated to support VWE’s ongoing growth and enhance long-term shareholder value.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) and Vintage Wine Estates announced their participation in investor conferences on June 2 and June 3, 2021. The business combination between Bespoke and Vintage Wine Estates is set to close around June 7, 2021, resulting in the new entity being listed as Vintage Wine Estates, Inc. on Nasdaq under the symbol 'VWE'. Vintage Wine Estates, a leading U.S. wine producer, sells over 2 million cases annually and operates a diverse portfolio of more than 50 brands.
On May 24, 2021, Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) announced a virtual shareholder meeting scheduled for May 28, 2021, to approve its merger with Vintage Wine Estates (VWE) and to domesticate to Nevada. VWE, which recently acquired Kunde Enterprises, expects a Pro Forma Adjusted EBITDA of $46 million and net revenue of $220 million for FY21. The BCAC Board emphasizes significant industry potential, management strength, and attractive valuation at 11.9x EV/Adjusted EBITDA for FY22. Shareholder redemption rights are available until June 4, 2021.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) reported its financial results for the interim period ending March 31, 2021. The unaudited interim financial statements have been filed on SEDAR and can be accessed by shareholders and interested parties. BCAC aims to carry out a qualifying acquisition within a specified timeframe, reflecting its strategic purpose as a special purpose acquisition corporation.
Bespoke Capital Acquisition Corp. announced the SEC's approval of its S-4 registration statement, paving the way for its business combination with Vintage Wine Estates. This combination is set to close around June 7, 2021, with trading in the combined entity expected to begin on the NASDAQ and TSX by June 8, 2021. Shareholders approved an extension for completing the acquisition until July 31, 2021, with around $330.8 million available to fund growth and expenses. A special meeting has been adjourned to May 28, 2021, to finalize voting details.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) announced a shareholder meeting on May 6, 2021, to vote on an extension of its investment timeline to July 30, 2021, as it completes the SEC review of its registration statement related to the business combination with Vintage Wine Estates (VWE). The vote on the acquisition and jurisdiction change to Nevada will be adjourned until the registration statement is effective. Shareholders can redeem their shares until May 3, 2021, and will have a second redemption right after the final prospectus filing.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) announces a shareholder meeting on May 6, 2021, urging shareholders of record on March 31, 2021, to vote FOR three resolutions. These include extending the investment timeline to July 30, 2021, approving the business combination with Vintage Wine Estates (VWE), and redomestication to Nevada. Notably, a $100 million private placement at $10.00 per share was recently announced. Shareholders have specific redemption rights, allowing opportunities to revocation until May 3, 2021, and again post-final prospectus filing.
Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) will hold a shareholder meeting on May 6, 2021, to approve its business combination with Vintage Wine Estates (VWE). Recently, Wasatch Global Investors committed to a $100 million investment at $10 per share, bolstering the merger's financial position. Key resolutions include extending the investment timeline, approving the merger, and redomesticating to Nevada. Shareholder votes are crucial; failure to approve may jeopardize the merger and could lead to share value loss.
