Meal-kit delivery company Blue Apron Holdings Inc. plans to raise as much as $586.5 million in its initial public offering to help it compete in the increasingly crowded marketplace for on-demand food.
The company will market 30 million shares at $15 to $17 each, Blue Apron said in a regulatory filing on Monday. The sale can be increased to 34.5 million shares if there’s enough demand, which would boost the IPO to $586.5 million, according to the filing.
Blue Apron filed for the IPO on June 1 without disclosing the size of the sale, after reportedly delaying listing preparations while it worked to improve financials.
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