- Blue Apron Holdings Inc (NYSE: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.
- Related: Blue Apron Nosedives After Q4 Miss; Expects Positive Revenue Growth Starting In Q2
- 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.
