Blue Apron Goes Public

6/29/17

Blue Apron Holdings Inc (APRN.N), the biggest U.S. meal kit provider, raised $300 million as it went public on Wednesday, a third less than it had hoped, as Amazon.com‘s (AMZN.O) industry-changing deal to buy Whole Foods Market Inc(WFM.O) weighed on the sector.

New York-based Blue Apron said late on Wednesday its initial public offering of 30 million shares of class A common stock was priced at $10 per share, at the low end of the $10 to $11 per share range issued earlier in the day.

It lowered the estimate from a range of $15 to $17 after potential investors expressed concerns about the $13.7 billion Amazon deal as well as Blue Apron’s marketing costs and lack of profitability, people familiar with the matter said. They requested anonymity because the pricing negotiations were confidential.

READ FULL ARTICLE HERE

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.