APRN - Blue Apron receives $70.5M planned capital infusion through debt & equity financings

Blue Apron (NYSE:APRN) announced that it plans to use the proceeds to pay off its existing term loan, and for general corporate purposes to stay focused on its long-term sustainable growth plan and to continue to execute on its turnaround strategies. The company entered into agreements for a new $40M private placement investment by RJB Partners, affiliate of Joseph N. Sanberg, a long-time investor in the company and a leading investor in climate positive companies. Also, it entered into a $500K private placement investment by Blue Apron’s President and CEO Linda Findley. It plans to refinance its existing debt with $30M of senior secured notes issued to clients of Allianz Global Investors—which will be used to pay off its current debt facility—and extend debt maturity to 2027. Under equity purchase agreements terms, Long Live Bruce, an affiliate of Joseph N. Sanberg, purchased 1.67M shares of Class A common stock and Findley purchased 41,666

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Blue Apron receives $70.5M planned capital infusion through debt & equity financings