APRN - Blue Apron commences fully backstopped $45M rights offering

Blue Apron Holdings (NYSE:APRN) commenced a $45M rights offering as part of its planned $78M capital raise. Under the terms of the rights offering, the company is distributing non-transferable subscription rights to each Class A common stock, to stock holders on record of October 8, 2021. The rights offering is fully backstopped by RJB Partners LLC under a purchase agreement, which commits RJB Partners LLC to purchase any and all shares of Class A common stock and warrants unsubscribed in the rights offering, subject to certain customary closing conditions, including completion of the rights offering. RJB Partners LLC has also committed to a $30M private placement investment on the same terms as the rights offering. Each subscription right will entitle the eligible holder to purchase for a subscription price of $1.8505 (i) approximately 0.185056 Class A common stock, (ii) one seven-year warrant to purchase approximately 0.148045 of Class A common

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Blue Apron commences fully backstopped $45M rights offering