Fresh Vine Wine, Inc. Announces Subscriptions of Approximately $3.14 Million from its Rights Offering
MINNEAPOLIS, March 10, 2023 (GLOBE NEWSWIRE) — Fresh Vine Wine, Inc. (NYSE American: VINE) (“Fresh Vine Wine” or the “Company”), a premier producer of lower carb, lower calorie premium wines in the United States, today announced the preliminary results of its rights offering which expired at 5:00 P.M. Eastern Time on March 9, 2023. The Company estimates that the rights offering will result in total subscriptions of approximately $3.14 million and Fresh Vine Wine expects to receive from the rights offering aggregate gross cash proceeds of approximately such amount (excluding additional proceeds of up to approximately $3.93 million from the exercise of warrants issued in the rights offering, if any such exercises occur). The results of the rights offering are preliminary and subject to change pending finalization and verification by Fresh Vine Wine and its subscription agent, Broadridge Corporate Issuer Solutions, LLC.