Blue Apron Holdings (APRN) Stock

Wonder Group, a food delivery company, said Monday it has closed its acquisition of meal-kit provider Blue Apron Holdings Inc. APRN, -0.08%, clearing the path for that stock to be delisted. The news comes just days after Blue Apron said there was substantial doubt it could continue as a going concern if the deal did not close.

Blue Apron Holdings Inc.'s stock APRN, +0.12% was slightly higher early Thursday, after the meal-kit company's reported a third-quarter loss that was narrower than expected, while revenue inched ahead of estimates. The company, which disclosed earnings in a regulatory filing, had a net loss of $10.3 million, or $1.34 a share, for the quarter, narrower than the loss of $25.9 million, or $8.93 a share, posted in the year-earlier period.

The pandemic lockdowns accelerated the use of food delivery and takeout services. Companies like Uber Technologies Inc NYSE: UBER, Uber Eats, Maplebear Inc. NASDAQ: CART, Instacart and Door Dash Inc. NYSE: DASH reintroduced consumers to eating at home, not to mention gig work.

Nike (NKE) shares close the week higher after reporting a first-quarter earnings beat. Wonder Group has reached a deal with Blue Apron (APRN) to acquire the meal kit company for $103 million.

Blue Apron has in recent months transitioned to become a more asset-light business, selling its operational infrastructure and laying off staff.

As competition for consumers' meal delivery spend heats up across businesses ranging from direct-to-consumer (D2C) sites and major food brands to restaurants and aggregators, Wonder is now set to acquire Blue Apron. The meal kit company announced Friday (Sept.

Blue Apron announced the merger in a press release on Friday, which said Wonder is set "to acquire all outstanding shares of the company's Class A common stock for a purchase price of $13 per share in cash."

Blue Apron, a provider of meal kits, has entered into a definitive merger agreement to be acquired by Wonder Group, a company focused on at-home dining and food delivery.

Blue Apron (NASDAQ: APRN ) stock doubled in price after taking a buyout offer from Marc Lore's Wonder Group. Shares in the meal kit company rose to $12.83 each overnight from their $5.49 per share close.