Bed Bath & Beyond Inc. said it will try to sell up to $300 million of common stock in the open market while terminating a fundraising deal with hedge fund Hudson Bay Capital Management LP in the latest effort by the troubled home-goods retailer to stave off bankruptcy.
The Union, N.J.-based company broke off its equity-raising deal with Hudson Bay after reporting another sharp drop in sales in the most recent quarter. Bed Bath & Beyond also said that if its public offering fails to come through, the company expects to file for bankruptcy protection, likely wiping out holders of its common stock.
Source: https://www.wsj.com/articles/bed-bath-beyond-terminates-hudson-bay-deal-turns-to-market-to-raise-300-million-e4b513ad?siteid=yhoof2&yptr=yahoo