Truett-Hurst Drops Offering Price Again

Truett-Hurst (Nasdaq: THST) has lowered the target pricing on its struggling IPO for a second time.

According to the company’s new S-1/A just filed with the SEC, the new range is now down to a target range of $6 to $8 — just over half of its original pricing of $11 to $15 when the process began April 3. (Truett-Hurst, Inc. Announces Commencement Of Initial Public Offering).

The company would raise $16.5 million if it sells all the shares at the $7 midpoint of the range.

At the beginning of the offering process, a highly promotional analyst report from the Sidoti company — which is a partner in the IPO — optimistically promoted a target price of $19.

That report can be accessed here by Wine Executive News premium subscribers.

NEW FINANCIALS ADDED

Most of the changes in the most recent S-1/A are tweaks and a few substantial disclosures. However, the company has also updated its financials to the nine months ending March 31 of this year.

Wine Executive News subscribers please click here to read the complete 1,038-word article.

Also In This Article:

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

• CASH FLOW STILL SHAKY

• WARNINGS AND TWEAKS

• FROM “RAPID SALES GROWTH” TO LIMITED PROFITABILITY

• TIMELINE FOR LAUNCHING THE PAPER BOTTLE

• TIMELINE FOR LAUNCHING THE SQUARE BOTTLE

• NEW PROFIT & OPERATING WARNINGS

• CUTBACKS IF IPO FAILS

• LARGER % OF IPO PROCEEDS WILL PAY BANK, OTHER LOANS

• LLC HOLDERS KEPT THST IPO AFLOAT WITH NEW LOANS
  

• FULL S-1A OFFERING STATEMENT

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE

• Bill Hambrecht: Billionaire’s Cash Flow Issues Have Broad Impacts
• Truett-Hurst IPO Struggles With Wary Investors, Pricing, Delays
• Truett-Hurst: Insiders, Ownership, History and Conflicts of Interest
• Truett-Hurst IPO Stumbles Over Red Flags & Confusion

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