Bed Bath & Beyond shares plunged 24% in morning trading as It is reported that the company may issue and sell shares.
Terms of the offering, including size and pricing, are yet to be determined.
The retailer plans to offer, issue and sell shares of its common stock together or separately and in one or more series.
Net proceeds from any sale would be used for general corporate purposes, which may include repayment of our indebtedness, future repurchases of our common stock and financing possible acquisitions.
Proceeds may also be invested temporarily in short-term marketable securities or applied to repay short-term debt until they are used for their stated purpose.
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