Blue Apron Shares Plunge On Equity Raise At 23% Discount

by Shivani Kumaresan, Benzinga Staff Writer

June 16, 2021 3:57 PM | 1 min read |

Blue Apron Holdings Inc APRN has priced 4.7 million shares of its Class A common stock at $4.25 per share in a public offering.
The offer price represents a discount of 23.1% to Tuesday's closing price of $5.53.
The gross proceeds to Blue Apron from the offering are expected to be about $20.0 million.
The underwriters have 30 days to procure additional shares up to 0.70 million.
The offering is expected to close on or about June 18, 2021.
Canaccord Genuity is acting as the sole book-running manager for the offering.
Price action: APRN shares are trading lower by 22.4% at $4.29 on the last check Wednesday.

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