Bed Bath & Beyond shares crater after meme stock files share offering of undisclosed amount
A sign outside a Bed Bath & Beyond retail store in New York, August 25, 2022.
Gabby Jones | Bloomberg | beautiful pictures
Outdoor shower bed shares fell after the retailer that shipped the stock meme said in a filing that it would sell the stock for an undisclosed amount.
Shares fell 19% in pre-market trading.
“We may offer, issue, and sell shares of our common stock from time to time,” the company said in its filing with the SEC. According to the deadline process for which it applies, the company may sell securities listed in one or more offerings.
“Each time we offer securities, we will provide an additional prospectus containing specific information on the terms of that offering,” the filing said.
The application comes just hours before Bed Bath & Beyond is expected to outline a fourth turnaround plan in an effort to win back the trust of shoppers, investors and suppliers.
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