Blue Apron Announces Commencement of Fully Backstopped $45 Million Rights Offering - Seite 2

Blue Apron intends to use the net proceeds of the full $78.0 million capital raise for working capital and general corporate purposes, including to accelerate its growth strategy to drive new customers and associated revenue growth, to build a framework to establish an ESG program, and to increase wages, benefits and training for its hourly employees. The company is also permitted by the terms of the purchase agreement to repay up to $5.0 million of outstanding indebtedness with capital raise proceeds.

The company intends to commence mailing subscription certificates evidencing the subscription rights and a copy of the prospectus for the rights offering to eligible holders of record on October 12, 2021. Holders of shares of Class A common stock in “street name” through a brokerage account, bank or other nominee will not receive physical subscription certificates evidencing the rights and must instruct their broker, bank or nominee whether to exercise subscription rights on their behalf. For any questions or further information about the rights offering, please call Georgeson LLC, the information agent for the rights offering, at 800-903-2897.

The company reserves the right to cancel or terminate the rights offering at any time with the consent of RJB Partners LLC. The rights are non-transferable. As such, stockholders will not be able to sell their subscription rights if they do not wish to exercise them.

Other Important Information

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A registration statement on Form S-3 (File No. 333-259677) relating to the rights offering has been filed with and declared effective by the SEC. The rights offering is being made only by means of a prospectus, copies of which will be delivered to eligible holders of record and can be accessed through the SEC’s website at www.sec.gov. A copy of the prospectus may also be obtained from the information agent, Georgeson LLC, at 800-903-2897. Additional information regarding the rights offering is set forth in the prospectus filed with the SEC. Stockholders are urged to carefully review the prospectus and subscription materials the company will provide and consult with their own legal and financial advisors in deciding whether or not to exercise the rights.