By Dhirendra Tripathi
Investing.com – Casper Sleep stock (NYSE: CSPR ) surged nearly 13% in Thursday’s premarket after deciding to go private.
The mattress-maker is being acquired by entities related to Durational Capital Management, an investment firm focused on consumer companies. The transaction is expected to close next week, Casper said.
As per a Nov. 15, 2021, announcement, Casper stockholders will receive in cash $6.90 per share, a 94% premium to the closing price on Nov. 12, the last trading day prior to the announcement of the merger. That gave the company a valuation of around $287 million.
The stock closed at $5.70 Wednesday.
Casper’s revenue for the third quarter through September rose 27% to an all-time record of $156.5 million. The net loss rose 59%, to $25.3 million. The company had 72 stores at the end of September.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.