Bed Bath & Beyond Shares Drop On $150M Additional Equity Offering

by Shivani Kumaresan, Benzinga Staff Writer

October 28, 2022 12:33 PM | 1 min read |

Bed Bath & Beyond Inc BBBY has made additional shares available for sale under its existing at the market offering program (ATM Program). The maximum aggregate offering amount is up to $150 million.
The ATM program was initially launched on August 31, 2022.
Pursuant to the ATM program, the company previously sold an aggregate of 12 million shares for gross proceeds of about $75 million.
The company intends to use the offering net proceeds for general corporate purposes, including rebalancing the company's assortment and inventory and addressing debt.
Price Action: BBBY shares are trading lower by 8.53% at $4.55 on the last check Friday.

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