Fresh Vine Wine, Inc. Announces Closing of Initial Public Offering

Rhea-AI Summary

Fresh Vine Wine, Inc. (NYSE American: VINE) has successfully closed its initial public offering (IPO) of 2,200,000 shares at a price of $10.00 per share, raising $22.0 million in total proceeds. The shares started trading on December 14, 2021. Oak Ridge Financial Services Group, Inc. acted as the lead book-running manager for the offering, with Boustead Securities, LLC as co-manager. The IPO was made under a registration statement filed with the SEC, which became effective on December 13, 2021.

Positive

• Raised $22.0 million from IPO, positioning for growth.
• Initial public offering reflects investor confidence, enhancing market presence.

Negative

• None.

MINNEAPOLIS, Dec. 17, 2021 /PRNewswire/ -- Fresh Vine Wine, Inc. (NYSE American: VINE) today announced the closing of its initial public offering of 2,200,000 shares of its common stock at a public offering price of $10.00 per share. Proceeds from the initial public offering were $22.0 million, before deducting underwriting discounts and commissions and other offering expenses.  The shares began trading on the NYSE American on December 14, 2021 under the ticker symbol "VINE."

The Oak Ridge Financial Services Group, Inc. acted as lead book-running manager and as representative for the proposed offering, with Boustead Securities, LLC serving as co-manager.

The securities described above were sold by Fresh Vine Wine, Inc. pursuant to a registration statement, as amended, filed by the Company with the Securities and Exchange Commission (the "SEC"), which was declared effective on December 13, 2021. The offering has been made only by means of a prospectus. A copy of the final prospectus related to the Offering may be obtained from The Oak Ridge Financial Services Group, Inc. at 701 Xenia Avenue South, Suite 100 Golden Valley, MN 55416, by calling Jake Newsom at (763) 923-2278 or by emailing JNewsom@oakridgefinancial.com, or from Boustead Securities, LLC at 6 Venture, Suite 395, Irvine, CA 92618, by calling Brinson Lingenfelter at (949) 375-6879 or by emailing Brinson@boustead1828.com. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

About Fresh Vine Wine, Inc. 

Fresh Vine Wine, Inc. is a premier producer of low carb, low calorie premium wines in the United States that positions its wines in the "better for you" segment which seeks to appeal to consumers' emphasis on a healthy lifestyle. Fresh Vine Wine's varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé.

Contact: freshvinewine@jonesworks.com

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SOURCE Fresh Vine Wine, Inc.

FAQ

What was the purpose of Fresh Vine Wine's IPO on December 14, 2021?

Fresh Vine Wine's IPO aimed to raise capital for business expansion and operational growth.

How many shares did Fresh Vine Wine offer in its IPO?

Fresh Vine Wine offered 2,200,000 shares in its IPO.

At what price per share did Fresh Vine Wine's IPO close?

The IPO closed at a price of $10.00 per share.

What are the potential impacts of the $22 million raised from Fresh Vine Wine's IPO on shareholders?

The $22 million raised could enhance Fresh Vine Wine's growth prospects, potentially benefiting shareholders in the long term.

Who were the underwriters for Fresh Vine Wine's IPO?

The lead underwriter was Oak Ridge Financial Services Group, Inc., with Boustead Securities, LLC as co-manager.