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Berkshire Hathaway adds $330 million in investment to Bending Spoons; stock price soars 35%
CNBC
10-14 23:35
Ai Focus
Bending Spoons's stock price soared 35% after a new securities filing revealed that Berkshire Hathaway made an additional $330 million investment in the company. This latest capital injection followed Berkshire's $600 million investment in July.
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Bending Spoons Stock price soars 35% after a new securities filing revealed that Berkshire Hathaway made a new investment of $330 million in the company.

This latest capital injection follows the group's $600 million investment in July. At that time, the Italian-based serial acquirer went public on NASDAQ.

According to this transaction, Bending Spoons will issue 10 million ordinary shares to Berkshire at an issue price of $33 per share.

“Bending Spoons has been continuously evaluating merger and acquisition opportunities, and our project pipeline remains strong,” said Francesco Patarnello, co-founder and head of business acquisitions at Bending Spoons. “We believe that Berkshire Hathaway’s investment reflects its confidence in our team and platform, and it will also further enhance our financial flexibility, as well as our ability to pursue attractive acquisitions as part of a broader financing strategy.”

The filing shows that this investment increased Berkshire's stake in the company to 4%. This is also the latest investment decision made by Berkshire since Greg Abel, the group's CEO, took over from founder and legendary investor Warren Buffett at the beginning of the year.

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