All articles tagged with #struggling retailer
Bed Bath & Beyond has called for a shareholder meeting on May 9 to vote on a potential amendment that would allow the board to execute a reverse stock split at a ratio of 1-for-10 to 1-for-20. The struggling retailer had previously called for a meeting to approve a reverse stock split at a ratio of 1-for-5 to 1-for-10. Shares were up 1.9% after hours.
Bed Bath & Beyond plans to seek shareholder approval for a reverse stock split at a ratio in the range of 1-for-5 to 1-for-10, with the final ratio to be decided by the board. The struggling retailer's shares dropped 13% in extended trading following the announcement. The move is intended to generate greater investor interest in the company and enable it to continue rebuilding liquidity to execute its turnaround plans.
Bed Bath & Beyond is seeking shareholder approval for a reverse stock split at a ratio in the range of 1-for-5 to 1-for-10, with the final ratio to be decided by the board. The struggling retailer's shares fell 13% in extended trading following the announcement. The move is intended to generate greater investor interest in the company and enable it to continue rebuilding liquidity to execute its turnaround plans. Bed Bath & Beyond has already raised $360 million out of its planned $1 billion through an offering of preferred stock and warrants.