Casper Sleep Inc - CSPR STOCK NEWS

Casper has partnered with Netflix to celebrate the release of the film Slumberland, providing cozy viewing experiences this holiday season. The collaboration includes exclusive screenings in New York City on November 19-20 and a virtual slumber party on November 18, featuring giveaways like Casper mattresses. The film, starring Jason Momoa, streams on Netflix starting November 18. This initiative aims to help families relax amidst holiday chaos.

Casper Sleep Inc. (NYSE: CSPR) announced that approximately 69.5% of stockholders voted in favor of its acquisition by subsidiaries of Durational Capital Management, LP. The transaction is expected to close during the week of January 24, 2022. Following the completion of the acquisition, Casper will operate as a privately-held company while maintaining its base in New York. The approval from stockholders was a pivotal step towards achieving the merger, which aims to enhance long-term value creation for the company.

Accrue Savings has successfully raised $25 million in a Series A funding round led by Tiger Global, reaching a total funding of nearly $30 million. This new capital will facilitate the expansion of retail partnerships and hiring across multiple departments. Launched in November 2021, Accrue Savings offers a unique shopping experience that rewards consumers for saving, enabling retailers to engage customers at earlier stages of the purchase process. New partners include Smile Direct Club (NASDAQ: SDC) and Casper (NYSE: CSPR).

Casper Sleep Inc. (CSPR) appointed Emilie Arel as the new CEO, effective November 15, 2021, succeeding co-founder Philip Krim. The company announced a definitive agreement to be acquired by Durational Capital Management for $6.90 per share, expected to finalize in Q1 2022. Financial results for Q3 2021 showed a 26.8% revenue increase to $156.5 million, but gross profit decreased by 6.7% to $63.9 million and net loss increased by 59.4% to $25.3 million. The company withdrew its financial guidance for 2021 amid the acquisition.

Casper Sleep Inc. has entered into a definitive agreement to be acquired by Durational Capital Management LP for $6.90 per share, a substantial 94% premium over the November 12, 2021 closing share price. The agreement, approved unanimously by Casper's Board of Directors, is subject to stockholder approval and is expected to close in Q1 2022. Durational has secured debt financing for the transaction, which will lead Casper to operate as a privately held company thereafter.

Accrue Savings, a fintech startup, has successfully raised $4.7 million in seed funding to support brands like Casper (NYSE: CSPR) in offering cash rewards that encourage customers to save for future purchases. This innovative platform links FDIC accounts to specific purchases, allowing consumers to save while earning cash incentives from their favorite brands. Accrue aims to address rising customer acquisition costs and online shopping cart abandonment by promoting debt-free purchasing habits.