Gabby Jones | Bloomberg | Getty Images Shares of Bed Bath & Beyond fell after the retailer-turned-meme stock said in a filing that it will sell an undisclosed amount of stock. Shares fell 19% in premarket trading. “We may offer, issue and sell shares of our common stock from time to time,” the company said in its Wednesday filing with the SEC. Under the shelf procedure, the company may sell the securities included in one or more offers. “Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the filing said. The filing also notes that the company plans to use the net proceeds from any securities sale for “general corporate purposes,” including paying down debt, repurchasing shares or financing potential acquisitions.
Inbound recovery plan
The filing comes hours before Bed Bath & Beyond is expected to unveil a turnaround plan on Wednesday in an effort to regain the trust of shoppers, investors and suppliers. Some investors were calling for the retailer to capitalize on its meme status by issuing shares to raise much-needed cash. The company previously said it was working with financial advisers and lenders to shore up its balance sheet. In the most recent quarter, the retailer’s net loss widened, and the company ended May with about $100 million in cash, up from $1.1 billion a year ago. It may also be in the process of securing a loan — The Wall Street Journal reported last week that the company and asset manager Sixth Street Partners are nearing final terms on a nearly $400 million loan. Sixth Street and Bed Bath did not respond to CNBC’s requests for comment. In addition to its financials, the company can also look at how it plans to attract buyers, cover issues with its supply chain and move inventory. Investors are also awaiting more information about a potential sale or spinoff of the Buybuy Baby brand.
Refreshing meme shares
Shares of Bed Bath & Beyond rose in August as the overall market rally encouraged so-called meme traders to take some risk back on the troubled and very short-term retailer. The stock’s move gained momentum throughout the month as small traders talked about the stock on Reddit message boards and hedge funds were forced to hedge their bets against it. The enthusiasm of the meme traders died down a bit and the stock hit new highs after activist investor Ryan Cohen sold his major position in Bed Bath & Beyond. The stock as of Tuesday’s close was still up more than 140% this month. CNBC’s Melissa Repko contributed reporting. This is a developing story. Check back for updates.
title: “Bed Bath Beyond Shares Crater After Meme Stock Files Share Offer Of Undisclosed Amount Klmat” ShowToc: true date: “2022-12-03” author: “Wayne Durbin”
Gabby Jones | Bloomberg | Getty Images Shares of Bed Bath & Beyond fell after the retailer-turned-meme stock said in a filing that it will sell an undisclosed amount of stock. Shares fell 19% in premarket trading. “We may offer, issue and sell shares of our common stock from time to time,” the company said in its Wednesday filing with the SEC. Under the shelf procedure, the company may sell the securities included in one or more offers. “Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the filing said. The filing also notes that the company plans to use the net proceeds from any securities sale for “general corporate purposes,” including paying down debt, repurchasing shares or financing potential acquisitions.
Inbound recovery plan
The filing comes hours before Bed Bath & Beyond is expected to unveil a turnaround plan on Wednesday in an effort to regain the trust of shoppers, investors and suppliers. Some investors were calling for the retailer to capitalize on its meme status by issuing shares to raise much-needed cash. The company previously said it was working with financial advisers and lenders to shore up its balance sheet. In the most recent quarter, the retailer’s net loss widened, and the company ended May with about $100 million in cash, up from $1.1 billion a year ago. It may also be in the process of securing a loan — The Wall Street Journal reported last week that the company and asset manager Sixth Street Partners are nearing final terms on a nearly $400 million loan. Sixth Street and Bed Bath did not respond to CNBC’s requests for comment. In addition to its financials, the company can also look at how it plans to attract buyers, cover issues with its supply chain and move inventory. Investors are also awaiting more information about a potential sale or spinoff of the Buybuy Baby brand.
Refreshing meme shares
Shares of Bed Bath & Beyond rose in August as the overall market rally encouraged so-called meme traders to take some risk back on the troubled and very short-term retailer. The stock’s move gained momentum throughout the month as small traders talked about the stock on Reddit message boards and hedge funds were forced to hedge their bets against it. The enthusiasm of the meme traders died down a bit and the stock hit new highs after activist investor Ryan Cohen sold his major position in Bed Bath & Beyond. The stock as of Tuesday’s close was still up more than 140% this month. CNBC’s Melissa Repko contributed reporting. This is a developing story. Check back for updates.
title: “Bed Bath Beyond Shares Crater After Meme Stock Files Share Offer Of Undisclosed Amount Klmat” ShowToc: true date: “2022-12-14” author: “Anthony Battles”
Gabby Jones | Bloomberg | Getty Images Shares of Bed Bath & Beyond fell after the retailer-turned-meme stock said in a filing that it will sell an undisclosed amount of stock. Shares fell 19% in premarket trading. “We may offer, issue and sell shares of our common stock from time to time,” the company said in its Wednesday filing with the SEC. Under the shelf procedure, the company may sell the securities included in one or more offers. “Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the filing said. The filing also notes that the company plans to use the net proceeds from any securities sale for “general corporate purposes,” including paying down debt, repurchasing shares or financing potential acquisitions.
Inbound recovery plan
The filing comes hours before Bed Bath & Beyond is expected to unveil a turnaround plan on Wednesday in an effort to regain the trust of shoppers, investors and suppliers. Some investors were calling for the retailer to capitalize on its meme status by issuing shares to raise much-needed cash. The company previously said it was working with financial advisers and lenders to shore up its balance sheet. In the most recent quarter, the retailer’s net loss widened, and the company ended May with about $100 million in cash, up from $1.1 billion a year ago. It may also be in the process of securing a loan — The Wall Street Journal reported last week that the company and asset manager Sixth Street Partners are nearing final terms on a nearly $400 million loan. Sixth Street and Bed Bath did not respond to CNBC’s requests for comment. In addition to its financials, the company can also look at how it plans to attract buyers, cover issues with its supply chain and move inventory. Investors are also awaiting more information about a potential sale or spinoff of the Buybuy Baby brand.
Refreshing meme shares
Shares of Bed Bath & Beyond rose in August as the overall market rally encouraged so-called meme traders to take some risk back on the troubled and very short-term retailer. The stock’s move gained momentum throughout the month as small traders talked about the stock on Reddit message boards and hedge funds were forced to hedge their bets against it. The enthusiasm of the meme traders died down a bit and the stock hit new highs after activist investor Ryan Cohen sold his major position in Bed Bath & Beyond. The stock as of Tuesday’s close was still up more than 140% this month. CNBC’s Melissa Repko contributed reporting. This is a developing story. Check back for updates.
title: “Bed Bath Beyond Shares Crater After Meme Stock Files Share Offer Of Undisclosed Amount Klmat” ShowToc: true date: “2022-11-25” author: “Bruce Ritter”
Gabby Jones | Bloomberg | Getty Images Shares of Bed Bath & Beyond fell after the retailer-turned-meme stock said in a filing that it will sell an undisclosed amount of stock. Shares fell 19% in premarket trading. “We may offer, issue and sell shares of our common stock from time to time,” the company said in its Wednesday filing with the SEC. Under the shelf procedure, the company may sell the securities included in one or more offers. “Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the filing said. The filing also notes that the company plans to use the net proceeds from any securities sale for “general corporate purposes,” including paying down debt, repurchasing shares or financing potential acquisitions.
Inbound recovery plan
The filing comes hours before Bed Bath & Beyond is expected to unveil a turnaround plan on Wednesday in an effort to regain the trust of shoppers, investors and suppliers. Some investors were calling for the retailer to capitalize on its meme status by issuing shares to raise much-needed cash. The company previously said it was working with financial advisers and lenders to shore up its balance sheet. In the most recent quarter, the retailer’s net loss widened, and the company ended May with about $100 million in cash, up from $1.1 billion a year ago. It may also be in the process of securing a loan — The Wall Street Journal reported last week that the company and asset manager Sixth Street Partners are nearing final terms on a nearly $400 million loan. Sixth Street and Bed Bath did not respond to CNBC’s requests for comment. In addition to its financials, the company can also look at how it plans to attract buyers, cover issues with its supply chain and move inventory. Investors are also awaiting more information about a potential sale or spinoff of the Buybuy Baby brand.
Refreshing meme shares
Shares of Bed Bath & Beyond rose in August as the overall market rally encouraged so-called meme traders to take some risk back on the troubled and very short-term retailer. The stock’s move gained momentum throughout the month as small traders talked about the stock on Reddit message boards and hedge funds were forced to hedge their bets against it. The enthusiasm of the meme traders died down a bit and the stock hit new highs after activist investor Ryan Cohen sold his major position in Bed Bath & Beyond. The stock as of Tuesday’s close was still up more than 140% this month. CNBC’s Melissa Repko contributed reporting. This is a developing story. Check back for updates.
