Bed Bath & Beyond discloses stock offering plan ahead of strategy update, shares fall

By Thomson Reuters Aug 31, 2022 | 5:36 AM

(Reuters) – Bed Bath & Beyond Inc on Wednesday disclosed in a regulatory filing that it could offer more of its common shares, sending the value of its stock down about 20% in premarket trading.

The struggling home goods retailer, which is a favorite among retail traders, did not reveal the size of the potential stock offering.

The company is expected to disclose a roughly $375 million loan later in the day when it provides an update on its turnaround plans.

Its shares have gained more than 13% in the last two sessions in the run-up to the upcoming strategy update.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)