December 3, 2021
e-commerce mattress maker Casper sold for about $308 million

e-commerce mattress maker Casper sold for about $308 million

The e-commerce mattress maker Casper is being acquired and brought non-public, much less {that a} yr after its public debut, for about $308 million.

Shares of Casper Sleep Inc. spiked 94% to $6.76 on the opening bell Monday.

Durational Capital Administration pays $6.90 per share for Casper’s inventory.

The New York Metropolis firm went public in February 2020 and it is had a tough debut.

After being valued as a non-public firm at greater than $1 billion, it started promoting shares early final yr for $14.50, which put its worth as a public firm at round $575 million. That was near its peak.

On the shut of buying and selling Friday, a share of Casper may very well be had for $3.55.

On Monday the corporate, which does have some brick-and-mortar retail areas, posted a $25.3 million loss for the third quarter. It additionally introduced that Emilie Arel, the corporate’s president and chief industrial officer, will take over for Casper co-founder, Philip Krim as CEO.

The deal is anticipated to shut in 2022’s first quarter if accepted by Casper shareholders.

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