Bed Bath & Beyond proposes reverse stock split to avoid bankruptcy.

Bed Bath & Beyond is proposing a reverse stock split at an upcoming special meeting to have enough shares available to raise up to $300m in equity from a stock offering announced last week. The company's fundraising efforts have been hampered by its dwindling stock price, which has been on a precipitous decline and has been trading under $1 for the last few weeks. The beleaguered retailer said the reverse stock split would be at a ratio, to be determined by the board, in the range of 1-for-10 to 1-for-20. If the plan isn't completed, it likely won't have enough equity to pay its debts and keep its doors open, the company said in the filing.