APRN - Blue Apron trades lower after private placement investment announced

Blue Apron Holdings (NYSE:APRN) fell in early Monday trading after the company announced that it signed an agreement for an additional $5.0M private placement investment by RJB Partners LLC. RJB is an affiliate of Joseph N. Sanberg, a longtime investor in Blue Apron (APRN). The company said the investment is expected to close today and follows the private placement and backstop investment made by RJB Partners last November for aggregate gross proceeds of $62.7M, as part of Blue Apron’s $78.0M capital raise. Under the terms of the $5M purchase agreement, RJB Partners has agreed to purchase 357,143 shares of class A common stock, warrants to purchase 285,714 shares of class A common stock at an exercise price of $15.00 per share, warrants to purchase 142,857 shares of class A common stock at an exercise price of $18.00 per share and warrants to purchase 71,429 shares of class A common stock at

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Blue Apron trades lower after private placement investment announced