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Blue apron $50 off9/14/2023 “These new amendments align with our recent strategic initiatives to strengthen our balance sheet as we execute ‘The Next Course’ strategy.”Īs Blue Apron moves into the next phase of its turnaround, the company’s strengthened balance sheet positions it to execute against the next evolution of its strategic plan titled “The Next Course.” The plan, which outlines a path to profitability, is centered around three key objectives to drive growth over the next three years, including curated customer experiences, a scalable platform and sustainable profit.īlue Apron strives to be the first choice for consumers who seek out curated food experiences that meet the needs of their household and enhance their lives. “We are pleased to have negotiated amendments to our debt agreement that further enhance the terms of our debt and give us greater optionality to deploy cash,” said Randy Greben, Blue Apron’s Chief Financial Officer. The new amendments also add certain limitations to the definition of Cash Flow Forecast. Any decision relating to any potential future share repurchases would be made only after appropriate consideration of the company’s cash resources and needs, operating results, and other relevant factors. The amendments include the addition of a provision by which the Notes are callable within 18 months of their issuance (May 5, 2022), subject to a make-whole payment, as well as providing the company with the optionality to use up to $25.0 million of cash for potential future share repurchases, subject to certain conditions, including the closing of $50.0 million equity financing the company expects this week. Amendments Provide Company with Greater Financial Flexibility to Execute Against “The Next Course” Strategic Planīlue Apron (NYSE: APRN) announced today that the company has amended the terms of its $30.0 million of Senior Secured Notes due in 2027 (the “Notes”).
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