Quantcast

North Bay Business Journal

Tuesday, June 25, 2013, 1:55 pm

Truett-Hurst raises $14M in IPO

Print Friendly Print Friendly    

Share this item

    HEALDSBURG — Truett-Hurst, Inc. (Nasdaq CM: THST) on Tuesday said it closed its initial public offering of stock and had net proceeds of $14.1 million.

    Those proceeds, net of fees and expenses related to the IPO, were being used to purchase ownership in Healdsburg-based wine producer H.D.D., LLC. The wine company, in turn, will use that money to pay down its credit facility, for working capital, capital spending and hiring.

    In the stock prospectus a week ago, Truett-Hurst said it looked to raise $21.6 million in the IPO of 2.7 million shares, which would be more than $8 a share, before IPO costs.

    The stock started trading at $5.94 a share Wednesday. The closing price per share Tuesday was $5.85, up 5 cents.

    W.R. Hambrecht + Co. led the IPO, made through its OpenIPO auction-based process. CSCA Capital Advisors, Feltl and Company and Sidoti & Company were co-managers for the offering.

    Copyright © 1988–2014 North Bay Business Journal
    View the policy for linking to website content.

    Print Friendly Print Friendly    

    Submit Your Comments

    Required

    Required, will not be published

    Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments and Letters Policy. To share this item by email or social media, use the links above.

    Do not use this form to contact people, companies or organizations mentioned in this story. Contact them directly. Private messages left here will be deleted.