By James McCandless
San Antonio, Aug. 6 – Willamette Valley Vineyards, Inc. sold $3.3 million of its series A cumulative redeemable preferred stock with a dividend of 4.5% at $4.85 per share, according to a filing with the Securities and Exchange Commission.
The company offered a 4.5% dividend or a wine credit with 15% more value.
On Thursday, the preferreds (Nasdaq: WVVIP) were down 26 cents to close at $5.74 on volume of about 1,000 shares.
Willamette Valley is a Turner, Ore.-based wine producer.
| Issuer: | Willamette Valley Vineyards, Inc.
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| Amount: | $3.3 million
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| Maturity: | Perpetual
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| Dividend: | 4.5%
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| Price: | $4.85
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| Yield: | 4.5%
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| Pricing date: | Aug. 6
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| Settlement date: | Sept. 30
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| Distribution: | SEC registered
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| Listing: | Nasdaq: WVVIP
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