Blue Apron Secures Additional $5M Private Placement Investment

• Blue Apron Holdings Inc (NYSE: APRN) has signed an agreement for an additional .0 million private placement investment by RJB Partners LLC, an affiliate of longtime investor Joseph N. Sanberg.

• This investment follows the private placement and backstop investment made by RJB Partners in November 2021 for gross proceeds of $62.7 million.

• "We expect these funds to add to what we are already building to accelerate the next phase of our growth strategy," said CEO Linda Findley.

• Related: Blue Apron Nosedives After Q4 Miss; Expects Positive Revenue Growth Starting In Q2

• Under the purchase agreement, the company has agreed to provide RJB Partners LLC with certain customary registration rights regarding the securities purchased in the private placement.

• Blue Apron will use the proceeds for working capital and general corporate purposes.

• Price Action: APRN shares are trading lower by 9.25% at $5.79 on the last check Monday.

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• Blue Apron Nosedives After Q4 Miss; Expects Positive Revenue Growth Starting In Q2

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