Blue Apron stock falls more than 12% after company readies share offering

Shares of Blue Apron Holdings Inc. tanked more than 12% in the extended session Tuesday after the company said it is planning to tap equity markets, without disclosing more. Underwriters will have a 30-day option to purchase up to an additional 15% of the shares, and all of the shares in the offering are to be sold by Blue Apron, the meal kit company said. Canaccord Genuity is the sole book-running manager for the offering. Shares of Blue Apron ended the regular trading day down 5.5%.

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