The Duckhorn Portfolio, Inc. Announces Launch of Initial Public Offering
The Duckhorn Portfolio, Inc. ("Duckhorn") today announced that it has commenced the roadshow for its proposed initial public offering. Duckhorn has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") to offer 20,000,000 shares of its common stock to the public, with 13,333,333 shares being offered by Duckhorn and 6,666,667 shares being offered by its existing stockholder. Duckhorn also intends to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock from Duckhorn's existing stockholder. Duckhorn will not receive any proceeds from any sale of shares by the existing stockholder. The price range for the initial public offering is currently estimated to be between $14.00 and $16.00 per share. Duckhorn has applied to list its common stock on the New York Stock Exchange under the ticker symbol "NAPA."
J.P. Morgan, Credit Suisse and Jefferies are acting as joint lead book-running managers and as representatives for the proposed offering. Barclays, BofA Securities, Citigroup, Evercore ISI and RBC Capital Markets are also acting as book-running managers for the proposed offering. Academy Securities, Ramirez & Co., Inc. and Siebert Williams Shank are also acting as co-managers for the proposed offering. The proposed offering will be made only by means of a prospectus.
Copies of the preliminary prospectus, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560 or by telephone at 800-221-1037 or by email at [email protected]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022 or by telephone at (877) 821-7388 or by email at [email protected].
A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
About The Duckhorn Portfolio, Inc.
The Duckhorn Portfolio is the premier producer of luxury wines in North America. The acclaimed Duckhorn Portfolio includes Duckhorn Vineyards, Decoy, Paraduxx, Goldeneye, Migration, Canvasback, Calera and Kosta Browne, each with its own dedicated winemaker.
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