After the market closed on September 13, 2022, Vintage Wine Estates disclosed that certain of the company’s previously issued financial statements should no longer be relied upon and should be restated due to the identification of an accounting error. The accounting error is related to the treatment of interest rate swap agreements.
Vintage Wine Estates, Inc. went public via deSPAC transaction in June 2021.
Shares of Vintage Wine Estates, Inc. fell more than 40% in intraday trading on September 14, 2022.
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