Boxed plunges after saying it's evaluating potential bankruptcy filing, other options

seekingalpha2023-03-15

Grocery platform Boxed (NYSE:BOXD) sunk 43% in after hours trading after disclosing that it's evaluating a possible bankruptcy filing among other strategic options. Boxed (BOXD) is actively soliciting...

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Boxed (BOXD) is actively soliciting...</p>\n\n<a href=\"https://seekingalpha.com/news/3947473-boxed-plunges-after-saying-its-evaluating-potential-bankruptcy-filing-other-options\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Boxed plunges after saying it's evaluating potential bankruptcy filing, other options</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBoxed plunges after saying it's evaluating potential bankruptcy filing, other options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-15 12:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3947473-boxed-plunges-after-saying-its-evaluating-potential-bankruptcy-filing-other-options><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Grocery platform Boxed (NYSE:BOXD) sunk 43% in after hours trading after disclosing that it's evaluating a possible bankruptcy filing among other strategic options. Boxed (BOXD) is actively soliciting...</p>\n\n<a href=\"https://seekingalpha.com/news/3947473-boxed-plunges-after-saying-its-evaluating-potential-bankruptcy-filing-other-options\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AONNY","symbol_name":"Aeon Co. Ltd.","start_time":0,"source_url":"https://seekingalpha.com/news/3947473-boxed-plunges-after-saying-its-evaluating-potential-bankruptcy-filing-other-options","article_id":"2319696698","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1248789819/image_1248789819.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2319696698","pubTimestamp":1678853084,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Grocery platform Boxed (NYSE:BOXD) sunk 43% in after hours trading after disclosing that it's evalua","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AONNY":"Aeon Co. Ltd.","BK4155":"大卖场与超市","BK4122":"互联网与直销零售","BOXD":"Boxed Inc"},"translate_title":"Boxed股价暴跌，此前该公司表示正在评估潜在的破产申请和其他选择","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AONNY":1,"BOXD":1},"content_text":"Grocery platform Boxed (NYSE:BOXD) sunk 43% in after hours trading after disclosing that it's evaluating a possible bankruptcy filing among other strategic options. Boxed (BOXD) is actively soliciting proposals for the sale of all or substantially all of its assets, as well as other material transactions that would improve its liquidity position, the company said in an 8-K filing on Tuesday. Boxed continues to evaluate its options, which may include potentially filing for relief under the U.S. Bankruptcy Code and other strategic alternatives. The disclosure comes after a Seeking Alpha report a month ago that the company had talked to two potential suitors about a purchase of the company. Boxed has had talks with AEON Co. Ltd (OTCPK:AONNY) and at least one other suitor, according to a person familiar with the matter. The 8-K filing also indicated that Boxed (BOXD) on Friday entered into retention agreements with top executives, including CEO Chieh Huang, \"in order to retain critical talent in an effort to maximize value during a period of significant volatility.\" Boxed (BOXD) announced Jan. 3 that its board was exploring a possible sale, sending its shares soaring more than 40% that day. On Jan. 20 Boxed stock also popped 19% after announcing that it received $20 million in new financing. The company also entered into an amendment to its existing first lien debt facility with funds and accounts managed by BlackRock. Boxed has seen its stock plunge 96% since it went public through a de-SPAC in December 2021. While Boxed (BOXD) was originally mainly known for shipping boxes filled with toilet paper and potato chips, the company also moved into the software-as-service or SaaS business and that business is called Spresso. A forbearance agreement that Boxed (BOXD) has with lenders is set to expire on Sunday, according to a recent regulatory filing. The company continues to have talks with the lenders and has not delivered a debtor-in-possession budget acceptable to the lenders, entered into a binding debt commitment letter and term sheet or made the prepayment. Boxed said it may not be able to satisfy the terms of the prepayment at this time.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2319696698"}