Blue Apron Holdings Inc (APRN)

[Mr. Zen]

Private Placement

NEW YORK--(BUSINESS WIRE)--Blue Apron (NYSE: APRN) today provided an update on funding from Mr. Joseph Sanberg’s affiliates.

Blue Apron received $1.0 million of the private placement obligation of $56.5 million in exchange for which the company will issue 176,991 shares of Class A common stock at a price of $5.65 per share.

Furthermore, Mr. Sanberg has stated that he and his affiliates remain committed to funding the remaining purchase obligation of $55.5 million at $5.65 per share under the private placement agreement. The company continues to be engaged in constructive dialogue with Mr. Sanberg and his affiliates regarding his remaining obligations.

Blue Apron continues to retain its rights under the pledge agreement with affiliates of Mr. Sanberg and the personal guarantee Mr. Sanberg provided.