BBBY - Bed Bath & Beyond stock price waiver to end on April 3
2023-03-23 06:35:23 ET
- Bed Bath & Beyond ( NASDAQ: BBBY ) stock price waiver will cease on April 3, 2023, the beleaguered home retailer disclosed in a regulatory filing today.
- On Wednesday, the Union, New Jersey-based firm entered into a letter agreement relating to certain warrant to purchase Series A Convertible Preferred Stock issued by the company to an institutional investor issued in early February.
- Pursuant to the agreement, the investor waived the occurrence of any price failure that has occurred or may occur during the limited waiver period, i.e. between March 20, 2023 and April 3, 2023. The limited waiver will cease to be of further force and effect after 9:00 a.m. ET on April 3, 2023.
- BBBY shares have lost 46% in value over the past month and 86% since Feb. 6, when investors led by hedge fund Hudson Bay Capital agreed to provide the company with as much as $1B.
- Last week, Hudson Bay and other investors agreed to a temporary price floor of $1 until April 3 for the company to tap the next $100M additional funding .
For further details see:
Bed Bath & Beyond stock price waiver to end on April 3