All articles tagged with #hudson bay capital management
Bed Bath & Beyond has terminated its fundraising deal with Hudson Bay Capital Management and is now seeking to sell up to $300 million of common stock in the open market to avoid bankruptcy as its sales decline and it closes hundreds of stores.
Bed Bath & Beyond's stock remains under $1, putting the home goods retailer at risk of losing additional funding from hedge fund Hudson Bay Capital Management. The struggling retailer reached an amended agreement with Hudson last week to temporarily lower the stock price threshold to $1 until April 3, allowing for up to $100 million additional funding in April 2023. Bed Bath & Beyond last month said it was planning to raise some $1 billion through a complex offering of preferred stock and warrants in an effort to avoid bankruptcy.
Bed Bath & Beyond's shares fell 21% after disclosing substantial dilution from a recent equity deal, potentially complicating further fundraising from hedge fund Hudson Bay Capital Management. The number of common shares has nearly tripled to at least 335 million, making it difficult for the home-goods retailer to raise more money.