Apollo Global Management is investing $300m in Cimpress, the commercial-printing company that owns Vistaprint and has been hurt by the coronavirus pandemic.

The investment, which was earlier reported by the Wall Street Journal, comes in the form of a second-lien secured note with a 12% coupon, Cimpress said on 29 April. Apollo also will receive seven-year warrants to purchase the equivalent of just under 4% of Cimpress’s shares outstanding.