March 18, 2021 - Elite Stock Chat

ARRY – Array Technologies, Inc. Announces Pricing of Secondary Offering of 31,054,971 Shares

Written by admin on March 18, 2021. Posted in ARRY, Stock Report.

ALBUQUERQUE, N.M., March 18, 2021 (GLOBE NEWSWIRE) — Array Technologies, Inc. (NASDAQ: ARRY) (the “Company”) today announced the pricing of a secondary offering by a stockholder of the Company controlled by Oaktree Capital (the “Selling Stockholder”) of 31,054,971 shares of common stock of the Company at a price to the public of $28.00 per share. In addition, the Selling Stockholder granted the underwriters a 30-day option to purchase up to an additional 4,420,486 shares at the public offering price, less underwriting discounts and commissions. The Company will not receive any proceeds from the sale of shares by the Selling Stockholder. The Company’s common stock is listed on the Nasdaq Global Market under the symbol “ARRY.” The offering is expected to close on March 23, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities is also acting as a joint book-running manager and Credit Suisse, Barclays and UBS Investment Bank are acting as book-runners. Cowen, Oppenheimer & Co. Inc., Johnson Rice & Company L.L.C., Roth Capital Partners and Simmons Energy | A Division of Piper Sandler are acting as co-managers.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on March 18, 2021. This offering is being made only by means of a prospectus, copies of which may be obtained, when available, from:

Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282 (telephone: (866) 471-2526 or email: prospectus-ny@ny.email.gs.com); J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 1-866-803-9204), or by email at prospectus-eq_fi@jpmchase.com; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, by telephone at (212) 518-9658, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Array Technologies, Inc.

Array Technologies is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world’s largest manufacturers of ground-mounted systems. With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. The Company’s focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry’s best returns. Array Technologies is headquartered in the United States with offices in Europe, Central America, and Australia.

Forward Looking Statements

This press release contains forward looking statements, including statements regarding the secondary offering. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward looking statements as a result of a number of factors, including, but not limited to, those in the Company’s registration statement filed with the Securities and Exchange Commission and those described under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which are available free of charge on the Securities and Exchange Commission’s website at: www.sec.gov.

Media Contact:
James McCusker, 203-585-4750
jmccusker@soleburytrout.com

Investor Relations Contact:
505-437-0010
investors@arraytechinc.com

SPLK – Splunk: Investors Lose Hope, But Here's Why You Shouldn't

Written by admin on March 18, 2021. Posted in SPLK, Stock Report.

CMCSA – NBCUniversal and NFL Reach 11-year Extension & Expansion for Sunday Night Football, Primetime TV's #1 Show

Written by admin on March 18, 2021. Posted in CMCSA, Stock Report.

NEW YORK & STAMFORD, Conn.–(BUSINESS WIRE)–NBCUniversal and the NFL announced today an 11-year extension and expansion for NBC Sports to continue as the home of Sunday Night Football, primetime television’s No. 1 show for an unprecedented 10 consecutive years.

With the new agreement, which begins with the 2023 NFL season, NBC and Peacock, NBCUniversal’s streaming service, will present Sunday Night Football through 2033 – a span of 28 seasons for NBC as the home of the NFL’s premier primetime package (since its 2006 debut). In addition, beginning with the upcoming 2021 season, Peacock will stream all NBC Sunday Night Football games and the Football Night in America studio show. Peacock will also produce a new exclusive, expanded postgame show following SNF each week.

NBC Sports, which produced the first-ever NFL broadcast on Oct. 22, 1939 (Philadelphia Eagles-Brooklyn Dodgers from Ebbets Field), will present four of the next 13 Super Bowls, including three Super Bowls as part of the new agreement. Home of the upcoming Super Bowl LVI from SoFi Stadium in Los Angeles in February 2022, NBC and Peacock will broadcast and stream Super Bowls in February 2026, February 2030, and February 2034. NBC Sports’ presentation of Super Bowl XLIX in February 2015 is the most-watched show in U.S. television history (114.4 million viewers on NBC).

In each of the next 13 seasons, NBC will broadcast a Divisional Playoff game. In addition, NBC will televise two Wild Card playoff games during the 2021, 2022, 2023, 2026, and 2031 seasons, with a single Wild Card telecast in all other seasons. In each of the next seven seasons, NBC will broadcast a Sunday primetime Wild Card game. All NBC NFL postseason games will stream live on Peacock.

Peacock will also serve as the exclusive national home of six NFL regular-season games – one each year from 2023-28 (giving NBC Sports an additional regular-season game in those seasons) – and will launch a virtual NFL channel, highlighting classic games, as well as NFL Films’ series, library, and archival content, which will all also be available on demand. NBC Sports will have the option to incorporate enhanced and interactive features in game presentations to be streamed live on NBC digital platforms, including Peacock.

“We are excited to expand upon our relationship with the NFL, which is the most powerful content in sports and entertainment,” said Pete Bevacqua, Chairman, NBC Sports Group. “Sunday Night Football has been television’s most-watched primetime show for a decade, and we look forward to continuing our best-in-class presentation of SNF, Super Bowls, and playoff games for many years to come, while also broadening our audience with Peacock becoming the live streaming home for all NBC NFL games.”

“Comcast and the NBC family have been outstanding partners for us and we are excited to continue that relationship long into the future,” said NFL Commissioner Roger Goodell. “Sunday Night Football is firmly established as the No. 1 show in primetime television, and we are looking forward to working with NBC and Peacock to continue to bring the NFL to more fans in more ways than ever before.”

NBC Sports will continue its tradition of opening each season with the NFL Kickoff Game, as the first regular-season game in the Sunday Night Football package, which also includes the Thanksgiving night primetime game. The NFL’s flexible scheduling for SNF, which was instituted in 2006, will begin in Week 5 each season.

Each NFL Sunday on NBC will once again begin with Football Night in America, the most-watched studio show in sports in every year since its 2006 debut.

Telemundo Deportes, the U.S. destination for the biggest global sporting events in Spanish-language, will present all NBC NFL games on television in Spanish beginning in 2023, also available to be live streamed on Peacock.

This long-term agreement can be terminated on a one-time basis by the NFL after seven years.

In January, NBC concluded its 15^th season of Sunday Night Football, topping all primetime television series in the fall and once again pacing to finish as primetime’s #1 TV show in all key metrics for an unprecedented 10th consecutive year. NBC’s SNF extended its record for the most consecutive years atop the charts (since 1950), based on official live plus same day data provided by Nielsen.

Most Consecutive Years, #1 Ranked Show in Primetime, Since 1950

10 years in a row – Sunday Night Football (2011-12 through 2020-21; on pace)

6 years in a row – American Idol (2005-06 through 2010-11)

5 years in a row – The Cosby Show (1985-86 through 1989-90)…tied Cheers in ‘89-90

5 years in a row – All in the Family (1971-72 through 1975-76)

4 years in a row – Gunsmoke (1957-58 through 1960-61)

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 56 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.

ATNX – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Athenex, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of May 3, 2021 – ATNX

Written by admin on March 18, 2021. Posted in ATNX, Stock Report.

New York, New York–(Newsfile Corp. – March 18, 2021) – The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Athenex, Inc. (“Athenex”) (NASDAQ: ATNX) between August 7, 2019 and February 26, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Western District of New York. To get more information go to:

https://www.zlk.com/pslra-1/athenex-inc-loss-submission-form?prid=13831&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the data included in the Oral Paclitaxel plus Encequidar NDA presented a safety risk to patients in terms of an increase in neutropenia-related sequalae; (ii) the uncertainty over the results of the primary endpoint of objective response rate (ORR) at week 19 conducted by BICR; (iii) the BICR reconciliation and re-read process may have introduced unmeasured bias and influence on the BICR; (iv) the Company’s Phase 3 study that was used to file the NDA was inadequate and not well-conducted in a patient population with metastatic breast cancer representative of the U.S. population, such that the FDA would recommended a new such clinical trial; (v) as a result, it was foreseeable that the FDA would not approve the Company’s NDA in its current form; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Athenex you have until May 3, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77853

AMZN – Amazon looks to expand its telehealth footprint

Written by admin on March 18, 2021. Posted in AMZN, Stock Report.

The tech giant is expanding Amazon Care — which currently provides its Washington-based employees with access to virtual and in-person health services — to its workers nationwide. And it plans to offer the service to other companies as a workplace benefit for their own employees.

Amazon (AMZN) says the program’s follows a “successful launch” for its tens of thousands of Washington workers 18 months ago.

“By supplying Amazon Care as a workplace benefit, employers are investing in the health and well-being of arguably their most important asset: their employees,” Amazon said in a release Wednesday.

Virtual chats and video visits

Amazon Care gives workers on-demand access to virtual chats or video visits with medical providers who can provide treatment of illnesses or injury, Covid testing and flu shots, nutrition consulting, pre-pregnancy planning and a range of other services. Its doctors can order prescription medications, which are delivered to patients’ homes by Amazon. The program also offers in-person visits by providers to workers’ homes for additional services such as blood draws.

“The program’s secure, HIPAA-compliant service also allows employees and their dependents to see the same dedicated teams of medical professionals, which creates long-term relationships that benefit overall health,” Amazon said, adding that an app for the service is available to give employees easy access.

As of Wednesday, the full range of Amazon Care services is available to employees at other Washington-based companies. This summer, the virtual services will be available to employees of Amazon and other firms nationwide. Amazon also plans to expand the in-person visit offering to Washington D.C., Baltimore, Maryland, and other cities in coming months.

The expanded benefit for its own employees comes as Amazon faces scrutiny for working conditions at its warehouses amid a union election currently underway in Bessemer, Alabama.

Amazon's grocery chain is growing. It isn't Whole Foods

Amazon is in discussions with a number of companies about using Amazon Care, according to a spokesperson, who did not disclose the names of any potential customers. The spokesperson also declined to share details on how much it will cost other companies to provide their employees with the service.

This is the tech giant’s latest effort to grow its presence in the multi-billion-dollar health care industry. In 2018, Amazon bought digital drugstore startup Pill Pack for $700 million and last year, it officially launched Amazon Pharmacy, which delivers prescriptions to customers homes and offers extra perks for Prime members.

More virtual care

The move to expand Amazon Care follows a boom in telemedicine during the pandemic — research firm Gartner estimates that by 2023, virtual interactions will exceed face-to-face health care visits.

Amazon’s entrance into the space is likely to worry other digital health care providers. The day after Amazon’s announcement, Amwell (AMWL) stock fell nearly 8% and Teladoc (TDOC) shares dropped 2%.The broader market was down across the board Thursday, with tech stocks in particular selling off

Amazon’s health care ambitions haven’t always panned out. In 2018, it partnered with JPMorgan Chase and Berkshire Hathaway to form Haven, a company aimed at providing better health care services and insurance coverage at a lower cost to workers at the three firms — and potentially to other US companies. The venture folded earlier this year after struggling to make inroads with companies beyond the founding firms.

SQBG – SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Sequential Brands Group, Inc. – SQBG

Written by admin on March 18, 2021. Posted in SQBG, Stock Report.

NEW YORK, March 18, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Sequential Brands Group, Inc. (“Sequential” or the “Company”) (NASDAQ: SQBG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Sequential and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On November 9, 2017, Sequential issued a press release entitled “Sequential Brands Group Announces Third Quarter 2017 Financial Results” (the “November 2017 Press Release”). The November 2017 Press Release announced that “[i]ncluded in the net loss for the third quarter 2017 were non-cash impairment charges of $36.5 million for indefinite-lived intangible assets related to the trademarks of five of the Company’s non-core brands[,]” marking the first time the Company noted its need for impairment charges related to intangibles and its assets generally. On this news, Sequential’s stock price fell $36.80 per share, or 38%, to close at $58.00 per share on November 9, 2017.

Then, on February 28, 2018, Sequential issued a press release announcing a “goodwill adjustment represent[ing] a one-time, non-cash charge of $304.1 million that was driven by the Company’s stock price during the fourth quarter—as well as the increase in the Company’s book value related to tax reform—which results in an assessed fair value of equity that was significantly below its net book value.” On this news, Sequential’s stock price fell $6.80 per share, or 8%, to close at $76.00 per share on February 28, 2018.

Finally, on December 11, 2020, the U.S. Securities and Exchange Commission (“SEC”) filed a complaint charging Sequential “with failing to impair its goodwill as required by accounting principles and the federal securities laws.” The SEC complaint alleged, among other things, that “[b]y avoiding an impairment to its goodwill in 2016, Sequential’s financial statements and SEC filings materially understated its operating expenses and net loss and materially overstated its income from operations, goodwill, and total assets. This created a false impression of its financial health and ability to execute on its business plan. Sequential carried forward its material errors, resulting in material misstatements and omissions in Sequential’s financial statements and SEC filings for the first three quarters of 2017.” On this news, Sequential’s stock price fell $2.03 per share, or roughly 11%, to close at $16.20 per share on December 11, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

SOURCE Pomerantz LLP

F – Ford to build some F-150 trucks without certain parts due to global chip shortage

Written by admin on March 18, 2021. Posted in F, Stock Report.

EBIX – HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Reminds Ebix (EBIX) Investors of Securities Class Action, Ebix Receives Noncompliance Notice from Nasdaq

Written by admin on March 18, 2021. Posted in EBIX, Stock Report.

San Francisco, California–(Newsfile Corp. – March 18, 2021) – Hagens Berman urges Ebix, Inc. (NASDAQ: EBIX) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.

Class Period: Nov. 9, 2020 – Feb. 19, 2021
Lead Plaintiff Deadline: April 23, 2021
Visit: www.hbsslaw.com/investor-fraud/EBIX
Contact An Attorney Now: EBIX@hbsslaw.com
844-916-0895

Ebix, Inc. (EBIX) Securities Fraud Class Action:

The complaint alleges that Defendants concealed that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix’s gift card business in India during 4Q 2020; (2) that there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company’s independent auditor, RSM, was reasonably likely to resign over disagreements with Ebix regarding $30 million that had been transferred into a commingled trust account of Ebix’s outside legal counsel.

Investors began to learn the truth on Feb. 19, 2021 when RSM abruptly resigned, stating that that “despite repeated inquiries” RSM was unable to obtain sufficient audit evidence to “evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020, including whether such transactions have been properly accounted for and disclosed in the financial statements subject to the Audit.” These “unusual transactions” concerned the company’s gift card business in India.

In addition, RSM and Ebix reportedly disagreed over whether $30 million transferred to a comingled trust account of Ebix’s outside counsel should still be classified as cash on Ebix’s balance sheet, even though those funds were outside Ebix’s direct control.

On this news, the Company’s share price fell as much as $20.24, or 40%, in a single trading day.

On Mar. 8, 2021, Ebix announced it has retained KG Somani & Co. as its new auditor, that it would not file its annual report until Apr. 2021, and that Board-appointed consultants and outside legal counsel are continuing “to evaluate the payment solutions business.”

Most recently, on Mar. 11, 2021, the Company received a noncompliance letter from Nasdaq for failing to timely file its 10-K, demanding that EBIX submit a plan to regain compliance with Nasdaq’s rules by Apr. 16.

“We’re focused on investors’ losses and proving Ebix insiders cooked the company’s books,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Ebix shares and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Ebix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email EBIX@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77852

ABBV – SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AbbVie Inc. – ABBV

Written by admin on March 18, 2021. Posted in ABBV, Stock Report.

NEW YORK, March 18, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of AbbVie Inc.(“AbbVie” or the “Company”) (NYSE: ABBV). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether AbbVie and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On March 17, 2021, AbbVie issued a press release “announc[ing] that the U.S. Food and Drug Administration (FDA) has extended the review period for the supplemental New Drug Application (sNDA) for upadacitinib in the treatment of adult patients with active psoriatic arthritis. The updated Prescription Drug User Fee Act (PDUFA) action date has been extended three months to late Q2 2021.” The Company advised investors that “AbbVie recently received an information request from the FDA for an updated assessment of the benefit-risk profile for upadacitinib in psoriatic arthritis. AbbVie responded to the request and the FDA will require additional time for a full review of the submission.”

On this news, AbbVie’s stock price fell $5.80 per share, or 5.23%, to close at $105.04 per share on March 17, 2021.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

SOURCE Pomerantz LLP

NAPA – IPO Report: Duckhorn eyes potential for more winery acquisitions following IPO

Written by Joy Wiltermuth on March 18, 2021. Posted in NAPA, Stock Report.

Napa Valley wine executive Alex Ryan isn’t done making a splash with the Duckhorn Portfolio.

After the St. Helena-based company completed a rare (for a winery) initial public offering Thursday, the chief executive said he plans to keep Duckhorn growing, including through potential acquisitions.

“How do you leverage this moment?” Ryan asked, as Duckhorn
NAPA,
+14.53%
shares soared more than 20% higher in their debut, briefly pushing the wine company’s market capitalization above $2 billion, on their first day of trade on the New York Stock Exchange.

“Growth will continue to be internal,” Ryan told MarketWatch, but he also said the company will take a “very diligent and careful” approach to exploring opportunities to add to its existing roster of about a dozen luxury wine brands.

“There are a lot of great wineries out there,” he said from New York, where Duckhorn shares closed 14.5% higher at $17.18, even as the big three stock indexes fell. “Maybe some will fit our culture and growth profile.”

The Dow
DJIA,
-0.46%
edged 0.5% lower Thursday, the S&P 500
SPX,
-1.48%
slumped 1.5% and the Nasdaq Composite Index
COMP,
-3.02%
skidded 3%, amid a sharp selloff in the energy and technology sectors.

In the wine niche, few producers globally now operate as public companies, a sign of how difficult it can be to run an agricultural business under the public spotlight, particularly when success hinges on consumer tastes, favorable weather and coping with increasingly destructive wildfires.

A couple of famous California wine IPOs from prior decades eventually fell flat with investors. More recently, Sonoma’s Truett-Hurst Inc.
THST,
+29.03%
winery went public eight years ago, but its stock was delisted from the Nasdaq about two years ago after the company struggled.

Read: Duckhorn IPO: 5 things to know about Napa Valley wine’s first debut in decades

Ryan said the 45-year-old Duckhorn is different, in part because the company has grown accustomed to answering to private shareholders.

“It fuels innovation and excitement,” he said.

Company executives reaped a nearly $100 million windfall by selling about 6.7 million out of 20 million of the IPO shares, which priced at $15 apiece, or the midpoint of the anticipated range. Another roughly $200 million raised through the IPO will go to pay down debt, Ryan said.

What else might set Duckhorn apart? While many of Napa Valley’s family-run wineries struggled in 2020 due to the pandemic and devastating wildfires, Duckhorn had it is best year ever for sales, hitting $270 million for the fiscal year, thanks in large part to sales in grocery stores.

“It was a tough year, there’s no questions about it,” Ryan said. “But we recognized that consumers wanted to buy wine at grocery stores, and we were able to deliver to our customers.”

Duckhorn Vineyards, Decoy and Washington state’s Greenwing are among the company’s brands, with bottles fetching prices from $20 to $200.

In terms of what’s next, Ryan said the company has seen bookings for wine-tasting grow this spring as more of the country gets vaccinated.

“We are really encouraged by what we are seeing,” he said. “People are tired of staying at home.”

Day: March 18, 2021