Casper Sleep Sold to Private Equity

Mattress retailer Casper Sleep (New York) will go private via private equity firm Durational Capital Management, reports CNBC. The deal values the retailer at a 94 percent premium to its closing price last Friday.

“This agreement offers a promising opportunity to realize the highest value for our stockholders while providing Casper with much needed capital to execute on future initiatives to sustain and grow its business,” said Casper co-founder and CEO Philip Krim.

According to the article, Emilie Arel, Casper’s president and chief commercial officer, is expected to take over the CEO position from Krim.

Casper’s board of directors supported the Durational offer unanimously and recommended shareholders approve the deal, which is expected to close in the first quarter of 2022.

Read more at CNBC.