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

The Duckhorn Portfolio, Inc. Announces Proposed Public Offering of Common Stock

ST. HELENA, Calif.--(BUSINESS WIRE)-- The Duckhorn Portfolio, Inc. ("Duckhorn") (NYSE: NAPA) today announced the commencement of an underwritten public offering of 12,000,000 shares of its common stock by certain of its stockholders (the Selling Stockholders). Additionally, the Selling Stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. Duckhorn will not receive any proceeds from the sale of the shares by the Selling Stockholders.

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