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Blue Apron stock up 5% after meal-kit company's secondary offer, board resignations

Published Sep 15 2021 at 6:50 PM GMT
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  • Shares of Blue Apron Holdings Inc rose more than 5% in late trading Wednesday after the meal-kit company said it plans a $78 million equity raise and, in connection with that, the resignation of co-founder Matthew B Salzberg and Barry Salzberg from Blue Apron's board "to focus on their other board roles and business interests.
  • The equity tap includes rights offering and the sale of additional shares and warrants, including $3 million in a private placement with Matthew B Salzberg, who chaired the board.
  • The board of directors has appointed Jennifer Carr-Smith, an independent board member, to be board chair.
  • Blue Apron shares have lost 31% so far this year, contrasting with gains of around 19% for the S&P 500 index in the same period.
  • The company last month swung to a quarterly loss and posted quarterly revenue slightly lower than the FactSet consensus.




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  • Published Sep 15, 2021 6:50 PM GMT