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.
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