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Truett-Hurst shares drop in first day of trading

  • Truett Hurst CEO Phil Hurst (PD FILE, 2012)

Shares in Healdsburg wine company Truett-Hurst dropped 5 percent Thursday in their first day of trading on the Nasdaq exchange.

The company's stock opened at $5.94 a share and ended the trading day at $5.68 a share.

The company priced 2.7 million shares of common stock Wednesday at $6 per share, well below the $11 to $15 it originally sought.

The company plans to use the proceeds from the offering to pay down debts, for capital expenditures, and to hire additional workers, it said. Its shares trade under the symbol “THST.”

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