Casper announces stockholder approval of merger with Durational
Casper Sleep Inc. (Casper) announced on January 19, 2022 that its stockholders voted to adopt the agreement and plan of merger with Durational Capital Management LP (Durational). Within this merger, Casper will be acquired by certain subsidiaries of Durational Consumer SPV IV, LP (the Durational Vehicle), an investment vehicle managed by Durational. Casper reported that approximately 69.5% of stockholders voted in favor of the merger agreement. With the closing of the transaction, Casper will now operate as a privately0held company.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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