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Winc Inc. is reducing the scope of the planned IPO

By Stephen Nakrose

Wine club Winc Inc. announced Tuesday that it would reduce the size of its planned initial public offering from a previous 5 million shares to 1,538,462 common shares.

The company said it estimates its offering will range from $ 12-14 per share. The company had previously announced that it would price its offer between $ 14 and $ 16 per share.

The company said it has grown approximately 80% in case volume sold over the past two years, with sales exceeding 430,000 cases in 2020. The company said it had sales of Raised $ 36.4 million and $ 64.7 million for the year ended December 31, 2020.

The company announced that it will apply to be listed on the New York Stock Exchange under the symbol WBEV.

Write to Stephen Nakrose at [email protected]

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