Boxed closes sale of Spresso business to its first-lien lenders

By Sarah Lizee

Olympia, Wash., May 4 – Boxed, Inc., formerly known as Seven Oaks Acquisition Corp., closed the private sale of its Spresso business to its first-lien secured lenders as a going concern, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The purchase price for the Spresso business was a $26.25 million credit bid.

The company plans to wind down its remaining retail business.

Boxed is a New York-based e-commerce technology company that provides bulk pantry consumables to business and household customers. The company filed bankruptcy on April 2 under Chapter 11 case number 23-10397.

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