Winc, Inc. Prices $22.0 Million Initial Public Offering
Winc, Inc. (NYSE American: WBEV) announced its initial public offering of 1,692,308 shares at $13.00 per share, set to begin trading on November 11, 2021, and close on November 15, 2021. The proceeds will be used for general corporate purposes to support Winc's growth as a rapidly expanding winery in the U.S. The offering includes a 45-day option for underwriters to purchase an additional 253,846 shares. Forward-looking statements caution that the offering's completion and use of proceeds may vary due to conditions beyond the company's control.
- Initial public offering priced at $13.00 per share, raising $22.0 million.
- Winc is recognized as a rapidly growing winery in the U.S.
- Proceeds designated for general corporate purposes, potentially enhancing growth.
- Forward-looking statements indicate uncertainty regarding the completion of the IPO.
- Risks associated with the offering may impact shareholder value.
NEW YORK, Nov. 10, 2021 /PRNewswire/ -- Winc, Inc. (NYSE American: WBEV) (the "Company" or "Winc"), today announced the pricing of its initial public offering of 1,692,308 shares of common stock at an offering price of
Winc is one of the fastest growing at scale wineries in the United States, fueled by the joint capabilities of its data-driven brand development strategy paired with a true omni-channel distribution network. Winc plans to use the net proceeds of this offering for general corporate purposes.
Spartan Capital Securities LLC and Revere Securities LLC are joint book runners of the offering. Winc has granted the underwriters a 45-day option to purchase up to 253,846 additional shares at the IPO price to cover over-allotments, if any.
A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission on November 10, 2021. The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from Spartan Capital Securities LLC, 45 Broadway, New York, NY 10006, or, or by telephone at 212-293-0123, or by email at investmentbanking@spartancapital.com or by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the IPO. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE Winc
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