From Bespoke Capital Acquisition Form S-4
“The following diagram illustrates, in a simplified form, the organizational structure of the combined company immediately following consummation of the transactions. VWE shareholders and BCAC shareholders are expected to own the amounts and percentages of New VWE Holdco common stock as set forth in “ Ownership of New VWE Holdco” below.”
NEWS RELEASE – MARCH 15, 2021
TORONTO, March 15, 2021 (GLOBE NEWSWIRE) Bespoke Capital Acquisition Corp. (NASDAQ: BSPE) (TSX: BC.U) (TSX: BC.WT.U) (“Bespoke” or “BCAC”), a publicly-traded special purpose acquisition company, announced today that it has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”), which includes a preliminary proxy statement/consent solicitation statement/prospectus, in connection with its recently-announced proposed business combination with Vintage Wine Estates (“VWE” o
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[co-author: Ilya Ross]
What is a SPAC?
Special Purpose Acquisition Companies, known as SPACs, are companies with no commercial operations set up by investors, and which
exist for the sole purpose of raising money through an initial public offering (IPO) to eventually acquire another company.
Sometimes known as “blank check companies,” SPACs are typically formed by a private equity sponsor that lists its common equities on a public stock exchange through an IPO, with the eventual goal of combining with private businesses. This creates a “back door” into the public markets since these private enterprises don’t need to go through the expense and hassle of their own IPO. Once public, a SPAC typically has two years to complete a deal or they must return their funds to investors. This timeframe for a business combination, the requirement to hold public money in trust, and other technical matters pertaining to a SPAC transaction are set contractually and by specific rules of
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Decanter Napa winery Duckhorn plans stock market listing
Duckhorn has said it plans to list a portion of shares on the New York Stock Exchange under the ‘Napa’ ticker, while a separate US wine deal announced this month is set to see Vintage Wine Estates become a publicly traded company.
Duckhorn has this week announced plans for a stock market listing via an initial public offering.
‘The number of shares to be offered and the price range for the proposed offering have not yet been determined,’ it said.
If the offer goes ahead as planned, ‘The Duckhorn Portfolio’ would list on the New York Stock Exchange under the ‘NAPA’ symbol, said the group, which includes Duckhorn Vineyards, Kosta Browne and Decoy wines among others.