Sard Verbinnen & Co. represents Durational Capital Management as the New York investment firm agrees to acquire Casper Sleep mattress-in-a-box company for nearly $300M.
Durational's $6.90-per-share offer is a 94 percent premium over Casper's Nov. 12 $3.55 closing price.
Casper, which went public at $12 per share in February 2020, posted a 26.8 percent rise to $156.5M in Q3 revenues.
Despite that robust spurt in revenues, the red ink flow widened to $25.1M from $15.9M a year ago.
The mattress firm registered an $80.2M nine-month deficit on $436M in revenues.
Casper's CEO Philip Krim said the Durational deal creates immediate and substantial value for shareholders and allows Casper "to move forward on strong financial footing."
He said the deal offered a superior return to all other strategic financial options that the board evaluated over several months.
SVC's Jared Levy, Emily Claffey and Jeff Huber handle Durational, while JCIR's Joseph Jaffoni, Norberto Aja and Jennifer Neuman represent Casper.