Bed Bath & Beyond
‘s move to raise equity has depressed its stock and lifted its bonds as investors try to understand the terms of a dilutive and very complex offering.
The troubled retailer, which had said it faced the prospect of bankruptcy if it can’t raise $1.025 billion in the equity offering, said late Tuesday that it completed the deal. That brought in initial gross proceeds of approximately $225 million, while management expects to receive an additional $800 million in future installments, if certain conditions are met.
