Casper Sleep shares jump 11% premarket after company says shareholders approved buyout

Casper Sleep Inc. shares CSPR, +10.19% rose 11% in premarket trade Thursday, after the company said shareholders approved its plan to be acquired by certain subsidiaries of Durational Consumer SPV IV, an investment vehicle managed by Durational Capital Management LP. The company said the deal won about 69.5% of the vote at a special meeting on Wednesday. Durational is paying $6.90 a share to take Casper private, valuing the company at around $286 million. The deal is now expected to close the week of Jan. 24. Casper will now operate as a private company and continue to be based in New York. The mattress and sleep accessories company went public in February of 2020 at $12 a share, but the stock price has struggled and closed Wednesday at $5.73.