Breaking: Bed Bath & Beyond secured investor backing for a more than $1 billion equity-financing deal to stave off bankruptcy, people familiar with the matter said
Bed Bath & Beyond Inc. has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy and try to turn around its flagging business, people familiar with the matter said.
The offering of convertible stock and warrants, coupled with a $100 million additional credit line from one of its lenders, is expected to save the troubled retailer from the near-term chapter 11 filing it has warned about for weeks. Bed Bath & Beyond has received investor commitments to raise $225 million of equity capital initially and the rest of the more than $1 billion offering over time, according to people familiar with the matter.
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