Union Square Advisors Serves as Exclusive Financial Advisor to Blue Apron in its $30M Debt Refinancing with Allianz Global Investors

in its $30MM debt refinancing from

Demonstrates Union Square Advisors’ expertise in providing comprehensive strategic capital markets advice to technology companies

On May 9, 2022, Union Square Advisors announced it served as the exclusive financial advisor to Blue Apron (NYSE: ARPN) in its note purchase agreement with Allianz Global Investors under which it issued an aggregate principal amount of $30M of senior secured notes due 2027 on May 5, 2022. The net proceeds from the issuance of the senior secured notes were used, together with cash on hand, to repay the company’s prior senior secured term loan, which extends its debt maturity to 2027.

“We are pleased to have completed our debt refinancing, which strengthens our balance sheet and provides us with added financial flexibility,” said Randy Greben, Blue Apron’s Chief Financial Officer. “Our new debt comes with a lower interest rate, assuming we meet specified bond ratings, lower overall debt service obligations, including interest only payments for the first three years and no warrant coverage, and an extension of our debt maturity out to 2027. We are excited to partner with Allianz Global Investors and we believe this new financing gives us the horizon to focus on executing against our strategic growth initiatives.”

“We are excited to partner with Blue Apron and support their growth plan, as well as their packaging sustainability initiatives,” said John Thompson, Senior Portfolio Manager at Allianz Global Investors.

For a complete description of the terms and covenants applicable to the senior secured notes, please refer to the full text, which will be filed on Form 8-K with the Securities and Exchange Commission.

“Union Square Advisors is incredibly pleased to partner with Randy and the Blue Apron team to refinance the company’s debt, as they execute against their strategic growth initiatives with greater financial flexibility,” said Mike Meyer, Partner and Head of Capital Markets at Union Square Advisors.

Read the full press release here.

About Blue Apron

Blue Apron’s vision is Better Living Through Better Food™. Launched in 2012, Blue Apron offers fresh, chef-designed recipes with responsibly sourced ingredients. Through its delicious recipes, the company empowers home cooks to embrace their culinary curiosity, challenge their abilities in the kitchen, and see what a difference cooking quality food can make in their lives. Blue Apron is a carbon-neutral meal-kit company, and is focused on promoting planetary and dietary wellness for everyone.

About Union Square Advisors

Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices. Our expertise spans many aspects of the technology landscape, including Enterprise Software and Infrastructure, FinTech, Healthcare IT, Internet+Digital Media, eCommerce, Consumer Software, AIoT & Industrial Technology and other key segments. Since inception, Union Square Advisors has advised on more than 150 strategic transactions, valued in excess of $115B. For more information, please visit http://www.usadvisors.com.

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