Bed Bath & Beyond Establishes 12 Million Share ATM Program
August 31, 2022
Cleary Gottlieb represented Bed Bath & Beyond Inc. (Bed Bath & Beyond) in establishing a 12 million share at-the-market (ATM) common stock program, with Jefferies LLC as sales agent.
Under the program, Bed Bath & Beyond will sell shares of common stock from time to time on the Nasdaq through the sales agent. The program launched on August 31, 2022. Bed Bath & Beyond plans to use the net proceeds of the program for general corporate purposes, which may include the repayment, refinancing, redemption, or repurchase of existing indebtedness, working capital or capital expenditures, acquisitions, and other investments.
Bed Bath & Beyond and subsidiaries is an omnichannel retailer that makes it easy for its customers to feel at home. Bed Bath & Beyond sells a wide assortment of merchandise in the home, baby, beauty and wellness markets. Additionally, Bed Bath & Beyond is a partner in a joint venture that operates retail stores in Mexico under the name Bed Bath & Beyond.