Blue Apron shares soar on news of new capital investment and refinancing

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Blue Apron Holdings Inc. APRN, +33.77% stock jumped 28.2% at the Monday opening after it announced capital investment and refinancing moves totaling a $70.5 million capital infusion in the meal-kit company. RJB Partners has committed $40 million at $12 per share. RJB, a long-time investor in the company, has completed $20 million with the remaining $20 million expected in the second quarter. Blue Apron’s Chief Executive Linda Findley is investing $500,000 at $12 per share. And the company has plans to refinance $30 million in debt with partners Allianz Global Investors, extending the debt maturity to 2027 and lowering the overall debt service obligation. Blue Apron will pay off its current debt facility with these proceeds. Blue Apron stock is down 42% for the year to date.

This article was originally published by Marketwatch.com. Read the original article here.

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