Blue Apron Holdings Inc (NYSE: APRN) shares are trading lower Monday after the company announced an equity distribution agreement allowing it to sell up to $15 million of its stock.
Blue Apron has entered into a distribution agreement with Canaccord Genuity acting as the sales agent. The company may offer and sell shares of its Class A common stock with an aggregate offering price of up to $14,999,425 from time to time.
Last Week, Blue Apron announced a CFO transition after exiting CFO Randy Greben notified the company he accepted a position elsewhere and plans to resign from his role, effective Oct. 17. Blue Apron appointed Mitchell Cohen to serve as interim CFO, effective following Greben's departure.
Blue Apron is a United States-based company that prepares meals with fresh seasonal ingredients and sends them directly to customers who are interested in discovering new recipes, ingredients and cooking techniques.
APRN Price Action: Blue Apron has a 52-week high of $9.21 and a 52-week low of $2.27.
The stock was down 21.3% at $4.56 at time of publication, according to Benzinga Pro.
Photo: courtesy of Blue Apron.
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