Utah firm invests $100 million more in Santa Rosa’s Vintage Wine Estates
Wasatch Global Investors of Salt Lake City has boosted its investment in Vintage Wine Estates by $100 million before the Santa Rosa wine company’s initial public offering of stock slated early May.
Vintage Wine Estates, and its partner Bespoke Capital Acquisition Corp., announced Tuesday that Wasatch’s investment increased to $128 million overall. In return, Wasatch will receive common shares of Vintage priced at $10 a share.
In February, Vintage said it planned an IPO of nearly $700 million and the company’s stock would trade on the Nasdaq market and carry the ticker symbol VWE.
Pat Roney, CEO of Vintage Wine Estates, said tapping stock market investors would allow the company to gather $1 billion to spend on potential acquisitions.
You can reach Staff Writer Bill Swindell at 707-521-5223 or email@example.com.