Duckhorn (NAPA) Stock Falls 5% on Stock Offering from Private Equity Owners TSG Consumer Partners and Other Insiders

October 12, 2021 5:46 PM EDT

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The Duckhorn Portfolio, Inc. (NYSE: NAPA) shares were trading around 5% lower after-hours on Tuesday after the company announced a secondary stock offering from large private equity owner TSG Consumer Partners, which took the company public back in March, and other company insiders.

The company commenced an underwritten public offering of 12 million shares of its common stock by the Selling Stockholders, with up to an additional 1.8 million shares purchasing option (30-day) intended to be granted to underwriters.

The selling shareholder are Mallard Holdco (TSG Consumer Partners) and a number of Directors and named executive officers, including Alex Ryan (CEO), Lori Beaudoin (CFO), Sean Sullivan (EVP General Counsel), Pete Przybylinski (EVP Sales), Zach Rasmuson (COO), and Carol Reber (CMO).

J.P. Morgan, Credit Suisse and Jefferies are acting as joint lead book-running managers for the offering.

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