BRIEF-Boxed Inc - As Of March 10, Co Held Majority Of Its Cash Deposits & Other Liquid Instruments In Svb Accounts

Reuters2023-03-15

March 15 (Reuters) - Boxed Inc :

* BOXED INC - AS OF MARCH 10, CO HELD MAJORITY OF ITS CASH DEPOSITS & OTHER LIQUID INSTRUMENTS IN SVB ACCOUNTS

* BOXED INC - AS OF MARCH 13, TRANSFERRED MAJORITY OF ITS CASH OUT OF SVB ACCOUNTS & ESTABLISHING NEW COMMERCIAL BANKING RELATIONSHIP

* BOXED INC - REMAINING CASH BALANCES IN ITS SVB ACCOUNTS WILL BE USED TO FUND CO'S NEAR TERM OBLIGATIONS

* BOXED INC - CONTINUES TO EVALUATE OPTIONS, WHICH MAY INCLUDE POTENTIALLY FILING FOR BANKRUPTCY RELIEF & OTHER STRATEGIC ALTERNATIVES

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;;))

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