Wilmer, Goodwin Procter Order In for Blue Apron's IPO
The two Am Law 100 firms are advising on an initial public offering valuing the New York-based, meal-kit delivery company at $1.89 billion. Wilmer is also netting a seven-figure fee for its work.
July 03, 2017 at 09:55 PM
26 minute read
A group of Boston-based lawyers from a pair of Am Law 100 firms grabbed the lead roles on an initial public offering by Blue Apron Holdings Inc., a New York-based meal-kit delivery company now valued at roughly $1.89 billion after raising $300 million in a stock float last week.
While a relatively disappointing debut for Blue Apron, which was seeking a valuation of some $3.2 billion, the company's lawyers from Wilmer Cutler Pickering Hale and Dorr have reaped the benefits of their counsel to the ingredient-and-recipe subscription service.
A securities filing by Blue Apron states that the startup has incurred roughly $1.8 million in legal fees and expenses in its effort to transition to a publicly traded enterprise. Mark Borden, the immediate-past chair of Wilmer's corporate department and a former member of the firm's management committee, is working with capital markets partner David Westenberg in advising Blue Apron in its IPO.
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