Blue Apron shares more than double after Wonder Group buyout

Blue Apron Holdings

29/09/2023 13:27

** Shares of meal-kit maker Blue Apron  APRN.O  more than
doubles to $12.84 premarket
    ** Food-delivery startup Wonder Group strikes deal to
acquire Blue Apron for $103 million    
    ** Blue Apron shareholders to receive $13/shr, at a premium
of 137% as per APRN's price on Thursday's close
    ** Blue Apron was the first U.S. meal-kit company to go
public, with an IPO in June 2017, which valued the company at
$1.89 billion
    ** In a bid to raise capital, Blue Apron, which has been
struggling with weak demand, had offered two reverse stock
splits, including one in June
    ** Up to last close, stock down ~45% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))