- Duckhorn Portfolio Inc (NYSE: NAPA) reported the commencement of a public offering of 12 million shares of its common stock by certain selling stockholders.
- The selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 1.8 million shares of common stock.
- Duckhorn will not receive any proceeds from the sale of the shares by the stockholders.
- J.P. Morgan, Credit Suisse, and Jefferies are acting as joint lead book-running managers for the offering.
- Price Action: NAPA shares closed higher by 1.50% at $22.40 on Tuesday.
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