Bed Bath & Beyond Inc. Announces Special Shareholder Meeting to Approve Reverse Stock Split
The reverse stock split would not have any effect on the actual or intrinsic value of our business or a shareholder's proportional ownership in the Company (subject to the treatment of fractional shares) and would have no impact on the Company's business operations or any of its outstanding indebtedness. The Board may revoke the proposal and cancel the special meeting at any time if it determines that the reverse stock split is no longer in the best interests of the Company and its shareholders. Even if the meeting occurs and the amendment to the Certificate of Incorporation is approved, the Board may delay or abandon the reverse stock split at any time prior to the effective time of the reverse stock split if the Board determines that the reverse stock split is no longer in the best interests of the Company or its shareholders.
About the Company
The Company operates websites at bedbathandbeyond.com and buybuybaby.com.
This press release contains a number of forward-looking statements. Words such as "expect," "will," "working," "plan" and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's current views with respect to, among other things, future events. These forward-looking statements are not guarantees of future results and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company's control. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our expectations regarding the voting results on any proposal submitted to the Company's shareholders; the effect of the reverse stock split; the price of our Common Stock at any given time; risks related to the failure to receive the full amount of gross proceeds from the Company's financing transactions, including as a result of the failure of an equity condition to future funding, which the Company expects will likely force it to file for bankruptcy protection; the Company's ability to maintain access to its credit agreement; the Company's ability to deliver and execute on its turnaround plans; the Company's potential need to seek additional strategic alternatives, including restructuring or refinancing of its debt, seeking additional debt or equity capital, reducing or delaying its business activities and strategic initiatives, or selling assets, other strategic transactions and/or other measures, including obtaining relief under the
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