Bed Bath & Beyond (NASDAQ:BBBY) stock is on the move Tuesday after the company revealed it wants another $100 million.
This comes from the company temporarily adjusting the Price Failure threshold for an offering announced in February. Doing so opens it up to generate another $100 million in funding in April 2023. That would bring its total funding to $460 million.
According to Bed Bath & Beyond, this adjustment lasts until April 3, 2023, and increases the Price Failure threshold to $1. It also increases the Threshold Share Amount to 24,739.
Sue Gove, president & CEO of Bed Bath & Beyond, said the following about the news:
“The funding we have raised over the past month has supported our ongoing operations and enabled us to begin reinvesting in valuable inventory to fulfill customer demand. We will continue to consider thoughtful and essential actions that can enhance our business operations and accelerate results for customers, associates, suppliers and shareholders over the long-term.”
What This Means for BBBY Stock
Considering the recent trouble BBBY stock has been through, today’s news isn’t the best. The idea that the company needs even more funds to bounce back from poor investors in the holiday quarter isn’t sitting well with investors today.
This has shares of BBBY stock falling 7.3% as of Tuesday morning. The company’s stock is also down 50.3% year-to-date.
There’s more stock market news traders will want to know about below!
InvestorPlace is home to all of the latest stock coverage for Tuesday! Among that is what has shares of AMC Entertainment (NYSE:AMC), Volkswagen (OTCMKTS:VWAGY), and Univar Solutions (NYSE:UNVR) stock moving today. We’ve got all that news read to go at the following links!
More Tuesday Stock Market News
- AMC Stock Alert: APE Shares Climb Ahead of Conversion Vote
- VWAGY Stock Alert: Volkswagen Doubles Down on EVs With $193 Billion Plan
- Why Is Univar Solutions (UNVR) Stock Up 12% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
