BUZZ-Barnes & Noble Education tumbles on ATM share sale plans

Reuters09-21

** Barnes & Noble Education shares tumble 14.9% to $9.63 on Fri as co plans to raise equity

** BNED shares fall as much as 16.8% to $9.41, a 2-mth low

** Educational services firm early Fri filed up to $40 mln "at-the-market" $(ATM.UK)$ equity sales program to be run by BTIG

** BNED plans to use net proceeds from any sales to repay debt

** Co has ~26.2 mln shares outstanding, giving it roughly $250 mln market cap

** On Jun 11, BNED effected a 1-for-100 reverse stock split in order to regain compliance with NYSE listing standards

** Shares ended 2023 at $149, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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