Blue Apron Shares Soar After $70.5M Planned Capital Infusion

• Blue Apron Holdings Inc (NYSE:APRN) has entered into an agreement for a $40.0 million private placement investment by RJB Partners LLC, an affiliate of the company's long-time investor, Joseph N. Sanberg.
• The company has also inked an agreement for a $0.50 million private placement investment by its President and CEO, Linda Findley.
• RJB Partners committed to the private placement at $12 per share, with a $20 million investment completed with an additional $20 million investment expected in Q2 2022.
• Blue Apron plans to refinance debt with $30 million in partnership with Allianz Global Investors, extending debt maturity to 2027 and lower overall debt service obligations.
• The company intends to use the proceeds to pay off its existing term loan and for general corporate purposes.
• Price Action: APRN shares are trading higher by 32.0% at $3.99 on the last check Monday.