Bed Bath & Beyond surged 120%, then plunged as the embattled retailer secured a $1 billion fundraising deal to avoid bankruptcy
A convertible preferred stock is a type of equity security issued by companies, giving the investor the right to convert its preferred stock into common stock after a defined date.
Bed Bath & Beyond's troubles have been growing in the past year. Earlier this year, the New Jersey-based company said it may file for Chapter 11 bankruptcy protection after laying off 20% of its workforce last year. The home goods retailer's finances deteriorated as it struggled with getting enough products on its shelves, attracting fewer customers to its stores and website. It's also steeped in debt that the retailer said it lacked funds to pay off. Just this month, it
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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.
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Bed Bath & Beyond moves to raise $1 bln as bankruptcy clouds loomBed 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.
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