Bed Bath & Beyond, BBBY, has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy

Bed Bath & Beyond, $BBBY, has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy, per WSJ.

The home goods retailer said in securities filings that if it can't complete the complex transaction, it would "likely file for bankruptcy protection."

Bed, Bath & Beyond held talks in recent days with an investment firm, per Reuters.

Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised.

Bed Bath & Beyond said in January it had defaulted on a loan from JPMorgan Chase Bank, per Reuters.

See BBBY flow: https://unusualwhales.com/stock/bbby/flow-overview