Consumer goods firm Grove Collaborative surges after $100 million stock sale

Shares of consumer goods firm Grove Collaborative Holdings GROV.N jump ~15% to $1.3499 after the bell

Company plans to sell up to $100 million in stock to Yorkville, a hedge fund operator, over time through a standby equity purchase agreement (SEPA)

GROV amends SEPA and extends commitment period to August 1, 2027

HumanCo Investments, separately, urged Grove's board of directors to explore strategic options, including a sale, merger, or other major deal to boost growth and profitability

Up to last close, GROV down about 16% YTD