Truett-Hurst, Inc. said Wednesday that it has priced its initial public offering of 2.7 million shares of its Class A common stock at a price to the public of $6.00 per share, which is at the low end of its previously estimated price range of $6.00 to $8.00 per share.
The shares will be listed on the Nasdaq Capital Market beginning on June 20, and will trade under the symbol "THST."
The offering is expected to close on June 25.
Truett plans to use the net proceeds from the offering to pay down amounts owed under its credit facility, for working capital, capital expenditures, hiring additional personnel and for general corporate purposes.
Truett is super-premium and ultra-premium wine sales, marketing and production company based in the acclaimed Dry Creek and Russian River Valleys of Sonoma County, California.
In early April, Truett-Hurst announced that it has commenced an initial public offering of about 2.90 million shares its Class A common stock. The company originally estimated to price the IPO at $11.00 to $15.00 per share.
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