Shares of domestic merchandise retailer Bed Bath & Beyond (NASDAQ: BBBY) were on an upswing in morning trading on Thursday as the company disclosed in a regulatory filing that the stock price waiver will cease on April 3, 2023.
This waiver will cease to exist on April 3 as the company has entered into a letter agreement with an institutional investor relating to a warrant to purchase Series A Convertible Preferred Stock initially dated February 7. As a result, for the period from March 20 through April 3, the holder of the warrant has “waived the occurrence of any Price Failure (as defined in the Warrant) that has occurred or may occur during the Limited Waiver Period.”
Over the past five days alone, BBBY stock has lost more than 10% of its value.
