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Bed Bath and Beyond Receives $1B Investment

Bed Bath and Beyond ($BBBY@US) raised $1 billion in investor-backed capital to prevent bankruptcy. 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 beleaguered home goods retailer from the threat of chapter 11 filing. Bed Bath and Beyond has warned of impending bankruptcy for weeks despite its share price rally. Its share price dropped below $2 in January but rose to $6 on Monday. The company’s shares surged 92 percent on Monday before it announced the equity offering but dropped 37 percent in after-hours trading.
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