2023-04-03 17:00:00 ET
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The Duckhorn Portfolio ( NYSE: NAPA ) on Monday said its selling stockholder Mallard Holdco intends to offer 6 million shares of common stock of the company.
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The company said its selling stockholder expects to grant the underwriter a 30-day option to purchase up to an additional 900,000 shares on the similar terms.
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No shares are being sold by Duckhorn and Mallard Holdco will receive all of the proceeds from the offering.
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Goldman Sachs is acting as the underwriter for the proposed offering.
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Shares -5% at $15.25 after hours.
For further details see:
Duckhorn launches secondary offering of 6M shares, stock falls 5%