Mattress maker Casper to be taken private by PE firm Durational Capital Management

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  • Casper Sleep announced Monday that it would be taken privately by Durational Capital Management, which values ​​the mattress maker at a nearly 94% premium to Friday’s closing price.
  • The deal is expected to close in the first quarter of 2022.

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Casper Sleep announced Monday that it would be taken private by private equity firm Durational Capital Management, which values ​​the mattress maker at a nearly 94% premium to Friday’s closing price.

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Casper’s stock closed Friday at $3.55 per share. Durational Capital has agreed to pay $6.90 for each Casper share outstanding, the company said in a press release. Shares of Casper were up more than 94% in premarket trading on Monday following the news.

Philip Krim, Co-Founder and CEO of Casper, said, “This agreement provides a promising opportunity to realize the highest value for our shareholders, while executing on future initiatives to help Casper sustain and grow its business.” Provides much needed capital to do so.”

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Krim said the company has been talking to external advisors and Casper’s board for several months to evaluate a range of financial options, before deciding this was the best option.

Casper’s board unanimously supports Durational’s offering and recommends that shareholders approve the transaction, he said.

The deal is expected to close in the first quarter of 2022.

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