Bending Spoons skyrockets 35% as Berkshire Hathaway makes $330 million investment
Berkshire's latest investment follows the $600 million it invested in the company's IPO this July.
Key points
- Bending Spoons shares jumped 35% after a securities filing revealed a new $330 million investment from Berkshire Hathaway.
- Berkshire will receive 10 million ordinary shares at $33 each, following its $600 million investment in July when Bending Spoons went public on the Nasdaq.
- The new investment brings Berkshire's stake in the Italy-based company to 4%, according to the filing.
Shares of Bending Spoons rose 35% after a new securities filing showed that Berkshire Hathaway made a fresh $330 million investment in the company. The Italy-based serial acquirer will issue 10 million ordinary shares to Berkshire at $33 a share.
The investment follows Berkshire's $600 million investment in July, when Bending Spoons went public on the Nasdaq. According to the filing, the new infusion brings Berkshire's stake in the company to 4%.
What the company said
Francesco Patarnello, Bending Spoons' co-founder and head of business acquisitions, said in a statement that the company "continuously evaluates M&A opportunities" and that its pipeline remains strong. He said Berkshire's investment reflects confidence in the team and Platform and will enhance financial flexibility and the ability to pursue acquisitions as part of a broader financing strategy.
Bending Spoons continuously evaluates M&A opportunities, and our pipeline remains strong
— Francesco Patarnello
Leadership context
The filing marks Berkshire's latest investment decision since CEO Greg Abel took over from founder and investor Warren Buffett at the start of the year.
