In an eleventh-hour effort to avoid bankruptcy, Bed Bath & Beyond has announced plans to raise $1 billion through a preferred stock and warrants offering. The struggling retailer says that if can’t complete the transaction, it will “likely file for bankruptcy protection.” But if it is successful, Bed Bath will be able to make payments on its debt — it missed $28 million in bond interest payments last week — and imminently filing for Chapter 11. The company’s shares sank some 40% in early trading Tuesday as investors worried about stock dilution.
AUTHOR: Sarah Ryans
Sarah is a finance and stock news curator with a strong passion for the market. She has been working in this field for several years and has a deep understanding of the financial industry. She is currently responsible for curating and selecting relevant articles for a finance and stock news publication. Her role is to ensure that the content is accurate and up-to-date, providing readers with valuable insights and analysis.