---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-022470"
form_type: "8-K"
ticker: null
cik: "0001828672"
company_name: "Boxed, Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:47:42.248095+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boxed completes sale of Spresso business for $26.25M credit bid; CEO, CPO, President depart

## Summary
- Sold Spresso software business to lender Spresso, LLC via Section 363 sale for $26.25M credit bid against debt plus assumed liabilities.
- CEO Chieh Huang, CPO Veracelle Vega-Hansen, and President Alison Weick departed effective April 30/May 1, 2023. Huang remains on board.
- Sale closed May 1, 2023, after Bankruptcy Court approval on April 27, 2023.
- Company lacks personnel to file financial or pro forma statements for the sale.

## SEC filing metadata
- accession: 0001140361-23-022470
- form_type: 8-K
- cik: 0001828672
- company_name: Boxed, Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/0001140361-23-022470-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/brhc20052372_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-022470
- JSON: https://secwatch.observer/filing/0001140361-23-022470.json
- Plain text: https://secwatch.observer/filing/0001140361-23-022470.txt

## Key facts
- Executive change
  Veracelle Vega-Hansen departed as Chief People Officer at Boxed, Inc..
  - Action: departed
  - Role: Chief People Officer
  source text: In connection with the Chapter 11 Cases, the following members of the Company’s management team departed the Company: (i) Chieh Huang, Chief Executive Officer, (ii) Veracelle Vega-Hansen, Chief People Officer and (iii) Alison Weick, President of E-Commerce.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/0001140361-23-022470-index.htm
- Executive change
  Alison Weick departed as President of E-Commerce at Boxed, Inc..
  - Action: departed
  - Role: President of E-Commerce
  source text: In connection with the Chapter 11 Cases, the following members of the Company’s management team departed the Company: (i) Chieh Huang, Chief Executive Officer, (ii) Veracelle Vega-Hansen, Chief People Officer and (iii) Alison Weick, President of E-Commerce.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/0001140361-23-022470-index.htm
- Executive change
  Chieh Huang departed as Chief Executive Officer at Boxed, Inc..
  - Action: departed
  - Role: Chief Executive Officer
  source text: In connection with the Chapter 11 Cases, the following members of the Company’s management team departed the Company: (i) Chieh Huang, Chief Executive Officer, (ii) Veracelle Vega-Hansen, Chief People Officer and (iii) Alison Weick, President of E-Commerce.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/0001140361-23-022470-index.htm
- M&A Transactions
  Boxed, Inc. completed a disposition involving Spresso, LLC for $26,250,000 (closed 2023-05-01).
  - Action: disposition
  - Counterparty: Spresso, LLC
  - Consideration: $26,250,000
  - Closing: 2023-05-01
  source text: to Section 363(k) of the Bankruptcy Code against the aggregate amount of outstanding indebtedness of the First Lien Credit Agreement as of the closing, of an amount equal to $26,250,000. On April 27, 2023, the Bankruptcy Court entered an order approving the Private Sale. The Private Sale closed on May 1, 2023. The Company does not anticipate filing financial
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123022470/0001140361-23-022470-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.