Winc Announces Launch of Initial Public Offering

Winc, Inc. (“Winc”) announced today the launch of an initial public offering of 5,000,000 shares of its common stock. In addition, Winc expects to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $14 and $16 per share. Winc has applied to list its common stock on the NYSE under the symbol “WBEV.”

BofA Securities and Canaccord Genuity are acting as joint lead book-running managers for the proposed offering. Craig-Hallum and Roth Capital Partners are also acting as book-running managers and The Benchmark Company is acting as co-manager.

The proposed offering will be made only by means of a prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, by telephone at (800)-294-1322 or by email at [email protected] or Canaccord Genuity, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110, or by email at [email protected]

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Winc

Winc is one of the fastest growing at scale wineries in the United States, fueled by the joint capabilities of its data-driven brand development strategy paired with a true omni-channel distribution network.

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the completion, timing and size of the proposed initial public offering. Each forward-looking statement is subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Winc, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement, in the form last filed with the SEC. These forward-looking statements speak only as of the date of this press release, and Winc undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Winc

 

 

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