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File – This August 8, 2018 file photo shows the Casper logo on the company’s website on a computer screen in New York. Casper Sleep went private in a deal with Duration Capital Management, where mattress maker stocks surged more than 94% before the market opened on Monday, November 15, 2021. (APPhoto / Jenny Kane, File)
New York (AP) — Casper, an e-commerce mattress maker, was acquired and closed for about $ 308 million less than a year after its release.
Casper Sleep Inc.’s share price surged 88.5%, closing at $ 6.69 on Monday.
Duration Capital Management pays Casper $ 6.90 per share.
The New York City company was launched in February 2020 and made a rough debut.
After being valued as a private company of over $ 1 billion, it began selling shares for $ 14.50 early last year, bringing its value as a public company to approximately $ 575 million. It was close to the peak.
At the close of trading on Friday, Casper shares may be available for $ 3.55.
On Monday, the company, which has several physical retail stores, posted a loss of $ 25.3 million in the third quarter. The company’s president and chief commercial officer, Emily Aller, has also announced that Casper co-founder Philippe Klim will be handed over to the CEO.
If approved by Casper’s shareholders, the transaction is expected to close in the first quarter of 2022.
E-commerce mattress maker Casper sells for about $ 308 million | WGN Radio 720
Source link E-commerce mattress maker Casper sells for about $ 308 million | WGN Radio 720
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