Blue Apron Secures Additional $5M Private Placement Investment

Blue Apron Holdings Inc APRN has signed an agreement for an additional $5.0 million private placement investment by RJB Partners LLC, an affiliate of longtime investor Joseph N. Sanberg.
This investment follows the private placement and backstop investment made by RJB Partners in November 2021 for gross proceeds of $62.7 million.
"We expect these funds to add to what we are already building to accelerate the next phase of our growth strategy," said CEO Linda Findley.
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Under the purchase agreement, the company has agreed to provide RJB Partners LLC with certain customary registration rights regarding the securities purchased in the private placement.
Blue Apron will use the proceeds for working capital and general corporate purposes.
Price Action: APRN shares are trading lower by 9.25% at $5.79 on the last check Monday.