Stock Market

Bed Bath & Beyond Reveals Receipt Of Additional Proceeds From Equity Offering

  • Bed Bath & Beyond Inc (NASDAQ: BBBYhas received approximately $135 million in gross proceeds, for a cumulative total of $360 million through Mar. 7, 2023, upon exercise of preferred stock warrants issued in its previously announced public equity offering.

  • On Feb. 7, 2023, the company completed an underwritten public offering that raised initial gross proceeds of $225 million, enabling the company to receive up to an additional $800 million.

  • The company has used proceeds received to date to repay outstanding revolving loans, creating additional liquidity opportunities to support business operating activities.

  • “Over the past month, we have been rebuilding our financial and operational positioning to execute our customer-focused turnaround plans,” said CEO Sue Gove.

  • “Since closing our equity financing last month, we have engaged with suppliers to improve our inventory positioning and we have continued to optimize our brick-and-mortar footprint through store closures to align with customer preference.”

  • In connection with the foregoing, the company entered into a waiver and amendment to its Credit Agreement.

  • Also ReadHere’s How Much Warren Buffett Makes In Apple Dividends Annually

  • Price Action: BBBY shares are trading lower by 3.18% at $1.30 on the last check Wednesday.

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Bed Bath & Beyond Reveals Receipt Of Additional Proceeds From Equity Offering originally appeared on


© 2023 Benzinga does not provide investment advice. All rights reserved.


Share this news on your Fb,Twitter and Whatsapp

File source

Times News Network:Latest News Headlines
Times News Network||Health||

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button