VWE VINTAGE WINE ESTATES INC

Vintage Wine Announces Forbearance Agreement Extension with Lenders

SANTA ROSA, Calif.--(BUSINESS WIRE)--

(Nasdaq: VWE and VWEWW) (the “Company”) today announced that the Company and its lender group have amended the amended and restated forbearance agreement dated April 2, 2024 (as amended, the “amended forbearance agreement”) to extend the forbearance period to June 4, 2024. The lenders have also agreed to defer the $10 million principal payment previously due at May 15, 2024 to June 17, 2024.

Under the amendment to the amended and restated forbearance agreement, the lender group has agreed to not exercise any rights and remedies until June 4, 2024, so long as the Company complies with the terms of the amended forbearance agreement and otherwise remains in compliance with the Second Amended and Restated Loan and Security Agreement.

About Vintage Wine Estates, Inc.

Vintage Wine Estates brings to market a unique portfolio of cider and Super Premium+ wines at $15+ per bottle. The Company leverages brand-affiliated wine clubs, tasting rooms, and owned ecommerce sites in conjunction with deep wholesale relationships to offer consumers a holistic, omnichannel experience.

EN
08/05/2024

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Reports on VINTAGE WINE ESTATES INC

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VWE VINTAGE WINE ES...

Vintage Wine Announces Forbearance Agreement Extension with Lenders

SANTA ROSA, Calif.--(BUSINESS WIRE)-- (Nasdaq: VWE and VWEWW) (the “Company”) today announced that the Company and its lender group have amended the amended and restated forbearance agreement dated April 2, 2024 (as amended, the “amended forbearance agreement”) to extend the forbearance period to June 4, 2024. The lenders have also agreed to defer the $10 million principal payment previously due at May 15, 2024 to June 17, 2024. Under the amendment to the amended and restated forbearance agreement, the lender group has agreed to not exercise any rights and remedies until June 4, 2024, so lo...

May 8, 2024 1 EN
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VWE VINTAGE WINE ES...

CORRECTING and REPLACING Vintage Wine Announces Forbearance Agreement ...

SANTA ROSA, Calif.--(BUSINESS WIRE)-- First paragraph, first sentence of release should read: ...the Company and its lender group have amended the forbearance agreement dated February 28, 2024... (instead of ...the Company and its lender group have amended the forbearance agreement dated March x, 2024...) The updated release reads:  VINTAGE WINE ANNOUNCES FORBEARANCE AGREEMENT EXTENSION WITH LENDERS (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”) today announced that the Company and its lender group have amended the forbearance agreement dated February 28, 2024 to extend the forbearanc...

April 3, 2024 1 EN
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VWE VINTAGE WINE ES...

Vintage Wine Estates Announces Appointment of Steven Strom to Board of...

SANTA ROSA, Calif.--(BUSINESS WIRE)-- (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”) today announced the appointment of Steven Strom to its Board of Directors, as of March 28, 2024. As an independent director, Mr. Strom will serve as the Chair of the Finance Committee, which also includes Robert L. Berner III, Mark Harms, Jon Moramarco and Patrick Roney. This press release features multimedia. View the full release here: (Photo: Business Wire) “We are excited to add Steven’s significant experience in completing challenging financings and financial restructurings to our Board. We believe hi...

April 3, 2024 1 EN
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VWE VINTAGE WINE ES...

Vintage Wine Estates Reports Second Quarter Fiscal 2024 Results

SANTA ROSA, Calif.--(BUSINESS WIRE)-- (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S., today reported its financial results for the three and six months ended December 31, 2023 ("second quarter fiscal 2024"). Seth Kaufman, President and CEO, commented, “We are intensely focused on our priorities to aggressively execute our turnaround plan as we transform into a nimble, omnichannel wine company that offers a unique portfolio of the highest quality Super Premium+ products in the U.S. Cash generation in the second quarter validates our efforts to mon...

March 12, 2024 1 EN
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VWE VINTAGE WINE ES...

Vintage Wine Estates Provides Update on Asset Sales as Company Progres...

SANTA ROSA, Calif.--(BUSINESS WIRE)-- (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S., today provided an update on the business to include its progress with restructuring and asset sales, discussions with its lenders and financial reporting timing expectations. Streamlined business offers commercial/operational focus and improved financial profile, supported by divestment of high-cost operations Seth Kaufman, President and CEO of Vintage Wine Estates, commented, “To reposition VWE as an omnichannel wine and cider company that offers the highest ...

March 5, 2024 1 EN

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