😮 Bed Bath & Beyond Inc shares are diving in Monday's after-hours session after the stock rocketed higher earlier in the day. The company proposed an offering following a nearly 100% gain in Monday's regular trading session. Bed Bath & Beyond has proposed an underwritten public offering of shares of the company's Series A convertible preferred stock, warrants to purchase shares of Series A convertible preferred stock and warrants to purchase the company's common stock. Follow benzinga The embattled retailer expects to raise approximately $225 million of gross proceeds in the offering and an additional approximately $800 million through the issuance of securities requiring the exercise of warrants. Bed Bath said it intends to use the net proceeds from the initial closing of the offering to repay outstanding revolving loans under its ABL Facility. Monday's trading action appears to be very speculative. The stock was trending on various social platforms in early trading. 58.77% of ...