Top > Business > 2006 > April > 2006-04-09

Castle Brands with IPO

Castle Brands Inc. announced this week that it has priced its initial public offering of 3,500,000 shares of its common stock at $9.00 per share. Castle Brands has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock to cover any over-allotments.

The initial public offering is being made solely by means of a prospectus. Castle Brands is an emerging developer and global marketer of premium branded spirits within four growing categories of the spirits industry: vodka, rum, Irish whiskey and liqueurs/cordials.

Oppenheimer & Co. Inc. acted as the lead managing underwriter for the initial public offering and Think Equity Partners LLC and Ladenburg Thalmann & Co. Inc. acted as the co-underwriters for the initial public offering. A registration statement on Form S-1 relating to these securities has been filed and declared effective by the Securities and Exchange Commission.