INCLINE VILLAGE, Nev.–(BUSINESS WIRE)– Vintage Wine Estates, Inc. (NASDAQ:VWE), one of the fastest-growing wine producers in the U.S. with an industry leading direct-to-customer platform, today announced that its Board of Directors has authorized the repurchase of up to $30.0 million in aggregate value of the Company’s common stock and/or warrants through September 8, 2022.
Pat Roney, Chief Executive Officer, commented, “We are executing well on our multi-channel strategy, driving growth, strengthening profitability and delivering value. We believe VWE’s common stock and warrants currently represent a very compelling value, and it makes sense to allocate some capital to repurchases. Given our financial flexibility, this authorization reflects the Board’s confidence in our strategy and potential of our business.”
The amount and timing of any repurchases will depend on a number of factors, including price, trading volume, general market conditions and legal requirements, among others. The repurchases may be made on the open market, in privately negotiated transactions or in other manners as permitted by federal securities laws and other legal and contractual requirements. There is no guarantee as to the number of shares or warrants that will be repurchased, and the repurchase authorization may be extended, suspended or discontinued at any time without notice and at the Company’s discretion.
