Bed Bath & Beyond Inc (NASDAQ:BBBY) shares are trading lower by 23.38% to $0.45 Friday afternoon after the company recently entered a $300 million at the market offering program and issued weak fourth-quarter guidance.

What Else?

Bed Bath & Beyond has entered into a common stock purchase agreement and a registration rights agreement with B. Riley Principal Capital II LLC for additional capital.

The company also provided preliminary financial results for the fiscal 2022 fourth quarter, with net sales of approximately $1.2 billion (consensus $1.43 billion), comparable sales decline in the 40% to 50% range, continuation of negative operating losses and modest free cash flow usage.

Bed Bath & Beyond says the company has not yet completed its fourth-quarter and full-year financial close and plans to provide its full results at the end of April 2023.

According to data from Benzinga Pro, BBBY has a 52-week high of $30.00 and a 52-week low of $0.45.