Berkshire raises Bending Spoons stake to 4% with fresh $330 million bet
BSP•Berkshire Hathaway invested an additional $330 million in Bending Spoons, bringing its stake to 4%. Bending Spoons will issue 10 million shares at $33 each, and its shares rose 40% in early trading.
1. Additional investment
Bending Spoons said Berkshire Hathaway had invested an additional $330 million, bringing its total ownership stake to 4%. The Italian company's shares rose 40% in early trading.
2. Share placement
Bending Spoons will issue 10 million ordinary shares at $33 per share in a private placement, subject to customary closing conditions. The investment follows Berkshire’s $600 million investment at Bending Spoons’ initial public offering in July.
3. Funding plans
Bending Spoons said the investment would strengthen its financial flexibility and support its acquisition strategy. Co-founder and head of business acquisitions Francesco Patarnello said the company continues to evaluate merger and acquisition opportunities and has a strong pipeline.
