Bed Bath & Beyond Inc said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants, in a last-ditch effort to stave off bankruptcy.
A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kellysaid on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants, in a last-ditch effort to stave off bankruptcy.on a loan, raising concerns about its future.
Shares of the retailer, which closed up 92.1% at $5.86 in a roller-coaster session, were down 33.5% in extended trading. Bed Bath said it was planning to raise about $225 million through an offering of Series A convertible preferred stock and an additional $800 million by issuing securities to buy shares of preferred stock in future installments.
The retailer said in a securities filing it would "likely file for bankruptcy protection" if the transactions are not consummated. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bed Bath & Beyond in Wilmette to close as retailer shuts down locations nationwideWilmette’s Bed Bath & Beyond in Edens Plaze will be closing as the financially-troubled retailer is paring down operations nationwide. No final closing date has been announced.
Baca lebih lajut »
Bed Bath & Beyond's stock soars as much as 120% as retailer nears bankruptcyBed Bath & Beyond Inc.'s stock undefined spiked as much as 120% Monday even as the retailer indicated it has missed payments to debt holders and could file...
Baca lebih lajut »
Bed Bath & Beyond plans to sell shares in bid to avoid bankruptcyStruggling retailer Bed Bath & Beyond said Monday it plans to sell shares of the company in hopes of generating enough cash to avoid filing for bankruptcy.
Baca lebih lajut »
Bed Bath & Beyond stock plunges as execs look for $1 billion share sale to get out of loan defaultBed Bath & Beyond led a revenge of the meme stocks Monday, with shares rallying 92%, but the stock turned around hard in after-hours trading as executives announced plans to sell convertible shares to get out of a loan default.
Baca lebih lajut »