Blue Apron will raise $587M in its IPO, valuing itself close to $3B

Blue Apron will raise $587M in its IPO, valuing itself close to $3B


Blue Apron, the meal ingredient delivery service that filed to go public earlier this month, has just priced its IPO. The company will price its shares between $15-$17, hoping to raise a maximum of $586,500,000. Using a $16 midpoint, this pricing gives the company a proposed valuation of just under $3 billion.

The company will be listed on the NYSE under the symbol “APRN”, and is expected to go public on June 28th.

The 30 million shares issued during the offering will be newly created Class A common stock, with one vote per share.

There will be an additional 157M shares of Class B shares outstanding, each with ten votes per share, meaning current shareholders of Class B shares will have 98% of the voting power for the company, with founder and CEO Matthew Salzberg holding about…

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