Bed Bath & Beyond Shares Drop 15% As Company Plans To Sell $300 Million In Stocks To Stave Off Bankruptcy

Shares of Bed Bath & Beyond dropped by more than 15% Thursday morning following an announcement it plans to offer and sell up to $300 million in common stocks in its latest bid to stave off bankruptcy—as the hamstrung home goods retailer’s financial woes continue.... [+]Bed Bath & Beyond’s shares fell by 15.73% to an all-time low of 68 cents Thursday morning, continuing a downward slide — its shares have now fallen by nearly 71% on the year.

”it might need to file for bankruptcy protection if it does not receive proceeds from its program, in which case shareholders “will likely receive no recovery at all for the securities offered.”the move will “enable us to create the necessary financial runway to begin restoring our iconic Bed Bath & Beyond,” saying the company has raised $360 million of equity capital since the start of last month .

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bed Bath & Beyond stock sinks toward record low after $300 stock offering, which represents more than triple the retailer’s market valueShares of Bed Bath & Beyond Inc. sank 3.6% toward a record low in morning trading Thursday, after the troubled home goods retailer said it launched an... I don’t think $300 is gonna save them at this point. But if they need it I can Venmo
Source: MarketWatch - 🏆 3. / 97 Read more »