Blue Apron Holdings, a leading meal-kit delivery service in the US, lowered the proposed deal size for its upcoming IPO on Wednesday.
The New York, NY-based company now plans to raise $315 million by offering 30 million shares at a price range of $10 to $11. The company had previously filed to offer 30 million shares at a range of $15 to $17. At the midpoint, Blue Apron Holdings will raise -34% less in proceeds than previously anticipated.
Blue Apron Holdings was founded in 2012 and booked $868 million in sales for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol APRN. Goldman Sachs, Morgan Stanley, Citi and Barclays are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2017.
