Fresh Vine Wine, which produces low carb, low calorie premium wines in the US, raised $22 million by offering 2.2 million shares at $10, the high end of the range of $9 to $10.
Fresh Vine Wine states that it is a premier producer of “better for you” low carb, low calorie premium wines in the US. The company crafts and bottles all of its wines in Napa Valley, offering varietals including Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé. It expects to introduce a limited Reserve Napa Cabernet Sauvignon in 2022 and further expand its portfolio of product offerings in the future. Among the company's co-founders are celebrities and business partners Nina Dobrev and Julianne Hough.
The company plans to list on the NYSE American under the symbol VINE. Oak Ridge Financial acted as the sole bookrunner on the deal.
