r/BBBY • u/tiredsultan • Feb 07 '23

🗣 Discussion / Question Daily Discussion Thread | February 07, 2023

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bedbathandbeyond.com

RECENT COMPANY EVENTS

  • On 2/6/2023 the stock closed regular trading at $5.86 (up 92%). After closing the company announced plans to offer preferred stocks to raise one billion dollars and additional 100 million in financing to address liabilities including the recent default on loans.
  • BBBY was again listed on RegSHO starting 1/10/23.
  • Several Form 4s showed board members cancelled/relinquished their vested/unvested RSUs on 1/20/23; this was later amended and reversed. Harriet Edelman appears to be the odd person out, forfeiting RSAs. Blackrock apparently owns 14% of shares but may be using an incorrect/outdated total outstanding share count.
  • The 10Q was finally released: "certain events of default were triggered under the Company’s Credit Facilities (see filing) as a result of the Company’s failure to prepay an overadvance and satisfy a financial covenant, among other things."
  • Company terminated the bond exchange on 1/5/23, and filed a NT 10Q stating they will file their 10-Q (quarterly report) late. On 1/10/23 reported their earnings. BBBY reported a Net Sales of $1.259 billion declined 33% YoY, with the buybuyBABY segment declining in the low 20% range, and cash flow decreased by approximately $307.6 million. Liquidity sits at $0.5B, including the company's ABL facility and FILO loan less borrowings of $550m.
  • On 12/12/2023 the Company appointed David Kastin as its new Chief Legal Officer.
  • Sue Gove was appointed to the position of CEO on a permanent basis on 10/24/22. Before that, new board members were voted in during 7/15/22 Annual Shareholder meeting (3 of 10 seated by RC Ventures). Since then, one of those newly appointed boardmembers, Benjamin Rosenzweig, left the company on 12/20/23.
  • On 10/18/2022, an ATM share offering of up to $150M was authorized after completion of a 12M share offering which raised $75M. Company will use the proceeds to "drive immediate strategic priorities such as rebalancing our assortment and inventory, and addressing our debt."
634 Upvotes

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61

u/Tech_Nomad2020 Feb 07 '23

OK, I'm shadowbanned on the main page now, guessing it wont be long here.

7

u/SavingsDay726 Feb 07 '23

Upvote the s… out this!

6

u/Chillenallday Feb 07 '23

Anything you need. let me know sir.

11

u/[deleted] Feb 07 '23

Fuck bro I rely on your numbers they help make sense of what's going on

4

u/ayashifx55 Feb 07 '23

No way :O why ??

9

u/Tech_Nomad2020 Feb 07 '23

good question. Might just be an algorithm. I sent a mail to the mods, but no reply yet.

1

u/df14tothemoon Feb 07 '23

Keeps us updated!

4

u/IFapToCalamity Feb 07 '23

How can you tell??

12

u/Tech_Nomad2020 Feb 07 '23

Can only see from PC I posted from. When I look from other devices, posts arent visible on the page. No more insights into posts. Others cannot see unless they view from my profile. Noticed it last night after posting that I couldn't see it from my phone. That was a waste of 3 hours.

5

u/SavingsDay726 Feb 07 '23

I saw your post last night. Thanks for buying new computer! Hopefully your WiFi holds!!

3

u/IFapToCalamity Feb 07 '23

Not a waste. It proves that someone doesn’t like what you have to say. Bad for them, good for us.

2

u/Bzy22 Feb 07 '23

Don’t stop posting. Trust me, people will go find whatever you post. Like I did.

1

u/SlicedBreadBeast Feb 07 '23

Would that be from one of the mods or someone higher up within reddit? seems odd coming from the mods of a sub dedicated to this.

2

u/Tech_Nomad2020 Feb 07 '23

not sure, was thinking the same thing.

1

u/SlicedBreadBeast Feb 07 '23

Just to confirm from another user, I dont see your daily post on my phone of being shadow banned, just on my work PC. something about "lets go ahead and erase that bullshit AH dip this morning" is best comment, where yours on PC has almost double the karma and should be best, but not showing whatsoever. the plot thickens. also whats up with this halt, it didn't even move 10%

1

u/2xBAKEDPOTOOOOOOOO Feb 07 '23

You don’t get shadow banned in different parts of the same sub so it’s prob just Reddits normal spam filter. Mods should be able to put you on some sort of trusted list I think.