Berkshire deepens Bending Spoons bet with $330 million, sparking share rally
Berkshire Hathaway invested another $330 million in Bending Spoons, bringing its stake to 4%. Bending Spoons shares rose 34% to $51.10 after agreeing to issue Berkshire 10 million shares at $33 each.
1. Berkshire adds investment
Berkshire Hathaway invested another $330 million in Bending Spoons, building on the $600 million it invested in the company’s July initial public offering. The investment lifts Berkshire’s stake to 4%, making it Bending Spoons’ sixth-largest investor, according to LSEG data.
2. Shares rally
Bending Spoons will issue Berkshire 10 million ordinary shares at $33 each. Its shares rose 34% to $51.10 on Wednesday. The company said the investment would strengthen its financial flexibility and support its acquisition strategy; co-founder Francesco Patarnello said it continues to evaluate opportunities and has a strong pipeline.
