VINE - Fresh Vine Wine estimates $3.14M in rights offering subscriptions
2023-03-10 09:19:38 ET
- Fresh Vine Wine ( NYSE: VINE ) announced that it estimates that the rights offering will lead to total subscriptions of ~$3.14M and Fresh Vine Wine expects to receive from the rights offering aggregate gross cash proceeds of approximately such amount.
- Additional proceeds of ~$3.93M will be excluded which will be from the exercise of warrants issued in the rights offering.
- Fresh Vine Wine distributed 0.5 non-transferable subscription rights for each one share of common stock held on the record date for the rights offering.
- Each whole subscription right entitles the holder to purchase one unit, at a subscription price of $1.00/unit, consisting of one share and a warrant to purchase one share of Fresh Vine Wine's common stock with an exercise price of $1.25/share.
- Rights offering closure will occur on or about Mar.14, 2023.
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Fresh Vine Wine estimates $3.14M in rights offering subscriptions