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Truett-Hurst amends terms of initial public offering of common stock
WR Hambrecht and Co., CS Advisors and Sidoti are assisting with sale
By Devika Patel
Knoxville, Tenn., April 23 - Truett-Hurst, Inc. said it revised the terms of an initial public offering of class A common stock. The sale will be made through an OpenIPO auction-based process and was announced on March 19. The company expects its shares to trade on the Nasdaq under the symbol "THST."
The company will now sell 2.25 million shares at a price that is expected to be between $8.50 and $10.50 per share. It previously planned to sell 2.9 million shares at a price between $11.00 and $15.00 per share.
WR Hambrecht and Co., LLC is leading the offering, with CA Capital Advisors, LLC and Sidoti & Co., LLC as co-managers.
Proceeds will be used to pay down amounts under the company's credit facility, for working capital, capital expenditures, hiring additional personnel and general corporate purposes.
Truett-Hurst, located in Healsburg, Calif., produces and markets wine.
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