Bending Spoons experienced a significant 35% increase in its stock price after a recent securities filing disclosed that Berkshire Hathaway invested an additional $330 million in the company. This investment comes on the heels of a previous $600 million investment made by Berkshire in July, shortly after Bending Spoons went public on the Nasdaq.
Under the terms of the latest deal, Bending Spoons will issue 10 million ordinary shares to Berkshire at a price of $33 per share. Francesco Patarnello, co-founder and head of business acquisitions at Bending Spoons, stated that the company is actively evaluating mergers and acquisitions and believes that Berkshire's investment demonstrates confidence in their team and platform.
This funding will enhance Bending Spoons' financial flexibility and support its strategy for pursuing attractive acquisitions. With this latest investment, Berkshire's stake in Bending Spoons has increased to 4%. This move is part of Berkshire's broader investment strategy under the leadership of CEO Greg Abel, who succeeded Warren Buffett earlier this year