# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/CoVqWn1K4Q7
- **Gondola URL:** https://gondola.cc/posts/17861484-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/f9f50350d7.jpg
- **Posted:** 2023-02-06T22:55:23.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

😮 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 the float is currently sold short, per Benzinga Pro.

Bed Bath's average session volume over a 100-day period is approximately 37.82 million. Monday's session volume exceeded 254 million and the stock remains volatile after hours. It was the top trending ticker on Stocktwits at last check.

Jim Cramer had his own thoughts on the situation on Twitter. benzinga 
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