BOXD - Boxed stock pops after launching strategic review process

Boxed Inc. ( NYSE: BOXD ) soared in premarket action on Thursday after the commerce technology company announced the board is exploring strategic options. Those alternatives for the company include a possible sale.

In addition, Boxed ( BOXD ) is actively exploring capital raising initiatives, and is targeting the announcement of additional funding within the next 45 days.

Boxed ( BOXD ) said it does not intend to make further announcements about the strategic alternatives or capital raising processes unless and until it has approved a specific transaction or otherwise determines that further disclosure is appropriate or necessary.

Shares of BOXD shot up 43.47% in premarket trading on Thursday to $0.37 vs. the 52-week range of $0.18 to $12.51.

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