Casper announces third quarter 2021 results
Casper Sleep Inc. (Casper), announced their financial results for the quarter ending September 30, 2021. Along with the release of the companies financial results, the company also announced that the company has entered into a definitive agreement to be acquired by Durational Capital Management LP (Durational) for $6.9 per share, $286.0 million total. The acquisition is expected to be completed in the first quarter of 2022. In the third quarter of 2021, Casper reported revenue of $156.5 million, an increase of 26.8% which was an all-time quarterly record.
M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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