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Blue Apron stock plunges after stock-sale announcement

Blue Apron stock plunges after stock-sale announcement

Shares of Blue Apron Holdings Inc. were tumbling more than 25% in premarket trading Monday after the meal-kit company said that it had reached an agreement with Canaccord Genuity involving a possible sale of Blue Apron common stock. Through the equity distribution agreement, Blue Apron can sell up to $15 million of Class A common stock via Canaccord. Canaccord is entitled to a 3% commission of the gross price of shares sold. Blue Apron, which announced last week that its chief financial officer