Truett-Hurst IPO Struggles With Wary Investors, Pricing, Delays

The Truett-Hurst IPO continues to struggle for traction in the public markets almost six weeks after the OpenIPO auction-style offering from W. R. Hambrecht commenced. (See Truett-Hurst, Inc. Announces Commencement Of Initial Public Offering).

In the past, OpenIPO auctions have taken about two weeks and there was eager anticipation that this one would fall into that time span.

But, dogged by investor wariness over the offering’s conflicts of interest and by a number of financial red flags and confusion, the offering dropped its pricing range three weeks later. (Truett-Hurst, Inc. Revises Terms Of Proposed Initial Public Offering).

Now, it looks as if it will change again despite the fact that both financier William Hambrecht and Truett-Hurst are relying on the liquidity that  a successful IPO can provide. A follow-up article on that will appear tomorrow.

Wine Executive News subscribers please click here to read this 1,315-word complete article.

Also In This Article:

The full text of the following sections is available to premium subscribers of Wine Executive News.

• HAMBRECHT COMMENTS ON THE STRUGGLE, UPCOMING CHANGES
  

• BANK COVENANT BREACH DEADLINE EXTENDED

• IPO PROCEEDS CAN BE USED FOR IMMEDIATE INSIDER LIQUIDITY EVENT

• CASH FLOW ISSUES ALSO WEIGHING ON THE IPO

• EXCHANGE AGREEMENT TEXT FROM THST S-1

• TAX RECEIVABLE AGREEMENT TEXT FROM THST S-1

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE

• Truett-Hurst: Insiders, Ownership, History and Conflicts of Interest
• Truett-Hurst IPO Stumbles Over Red Flags & Confusion

Not a Wine Executive News subscriber yet?

Subscribe to Wine Executive News now, and get the rest of this original article along with everything else on the site every day, including original documents, spreadsheets,and source materials for just $13.99 per month.

Subscribe now: Subscription rates will increase very soon.