Blue Apron Cuts Price of Its Forthcoming I.P.O.<br />By MICHAEL J. de la MERCEDJUNE 28, 2017<br />On the eve of its initial public offering, Blue Apron has resorted to offering a discount — for its own shares.<br />The company is expected to price its stock offering later on Wednesday<br />and begin trading on the New York Stock Exchange on Thursday, under the ticker symbol APRN.<br />The newly re-priced offering may reflect investor wariness over the company, which was one of<br />the first prominent purveyors of fresh ingredients for customers to prepare meals at home.<br />And then there is the specter of intensified competition from a deep-pocketed competitor: Amazon, which agreed this<br />month to buy Whole Foods Market for $13.4 billion in a deal that promises to reshape the grocery industry.<br />The meal delivery service disclosed on Wednesday that it had cut the price range for its market<br />debut by about 34 percent, now seeking to price its shares at between $10 and $11 each.
