It likely gives the company runway through the end of next year. No matter what, extending out the debt is good.īolstering the cash cushion with the equity can also be seen in a positive light. On the one hand, I think it's great that the company has pushed out its debt maturity. The company did not release the interest rate on the new debt but said the new money "lowers our overall debt obligations". The company also refinanced its existing term loan with a new $30 million senior secured facility with Allianz Global Investors that matures in 2027. CEO Linda Findley invested $500,000 at the same terms. Largest shareholder RJB Partners (Joe Sanberg) bought $20 million of shares at $12/share with a commitment for another $20 million in Q2. Scott Eisen/Getty Images News The Update:īlue Apron ( NYSE: APRN) announced incremental equity financing on Monday (May 2) that was similar to past financings.
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