BBBY - Bed Bath & Beyond receives additional $135M in proceeds from prior equity offering
2023-03-08 07:43:44 ET
- Bed Bath & Beyond ( NASDAQ: BBBY ) received ~$135M in gross proceeds, for a cumulative total of $360M through Mar.7, 2023 as it exercised preferred stock warrants issued in its earlier announced equity offering.
- Proceeds received to be used to repay outstanding revolving loans, creating additional liquidity opportunities to support business operating activities.
- In February first week, the company closed an underwritten public offering which raised initial gross proceeds of $225M and enabled it to receive up to an additional $800M.
- In March first week, the company completed interest payments for its senior notes.
- Amid cutting costs, Bed Bath & Beyond announced in February first week that it would be closing down 150 more stores.
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Bed Bath & Beyond receives additional $135M in proceeds from prior equity offering