SNBR - Casper Sleep soars 92% after accepting buyout offer

Casper Sleep (NYSE:CSPR) says it is taking a buyout offer from Durational Capital Management. Under the terms of the agreement, Casper common stockholders will receive cash consideration of $6.90 per share. That price represent a 94% premium to the closing share price on November 12. Casper's board has unanimously approved the transaction.  The transaction is not subject to a financing condition and Durational has committed debt financing led by KKR Credit and Callodine Commercial Finance, LLC. Shares of CSPR are up 92.11% to $6.82 in premarket action. Tempur-Sealy International (NYSE:TPX) and Sleep Number (NASDAQ:SNBR) are both up less than 1%. Seeking Alpha author Gary Alexander recommended buying CSPR last month.

For further details see:

Casper Sleep soars 92% after accepting buyout offer