- Bed Bath & Beyond Inc (NASDAQ:BBBY) has 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 Read: Here’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.
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