Publicly-traded vineyard raises about $5 million in subscriptions.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The publicly-traded Willamette Valley Vineyards has raised about $5 million in subscriptions, allowing it to be listed on the NASDAQ.
The preferred stock is trading under the symbol WVVIP.
The listing on NASDAQ means that investors outside Oregon and Washington can now get a piece of the action and purchase the preferred shares. “That is a very big deal to us,” [founder and CEO Jim] Bernau said.
Willamette Valley Vineyards announced in August that it was hoping to tap into the passion of Oregon and Washington wine enthusiasts to raise $6 million through the new preferred stock offering. Originally, Willamette Valley Vineyards had cleared the offering with state regulators in Oregon and Washington and made the stock available to potential investors from those states. Once the company reached $3.5 million in subscriptions, it planned to have it listed with NASDAQ, which would make it available to any investor.
(SOURCE: Statesman Journal)
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