Blue Apron Stock Is Tumbling Because the ‘For Sale’ Sign Is Gone

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Meal-kit maker Blue Apron has decided not to sell itself, disappointing investors who were keen on a deal. Shares have lost a quarter of their value.


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Blue Apron Holdings

stock has lost more than a quarter of their value on Thursday after the meal-kit provider announced the end of a strategic review launched earlier this year, and that it is not pursuing a sale or other strategic transaction.

On Feb. 18, Blue Apron (ticker: APRN) had announced a strategic review, which it said could result in a sale, merger, or capital raise. On Thursday, the company said it opted for Plan C, noting that Blue Apron had raised $32.9 million via the sale of 4 million shares in August at $9.25 apiece. Blue Apron also disclosed that it signed a new $35 million senior secured term loan in October. The company said it used proceeds

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