Bed Bath & Beyond Has Raised $48.5 Million in Equity Offering

Bed Bath & Beyond Inc. said it has raised $48.5 million through the sale of 100.1 million shares as the troubled retailer seeks to raise cash to avert bankruptcy.

The company said in a regulatory filing that it had raised the amount as of April 10 via an at—the-market agreement with B. Riley Securities. Bed Bath & Beyond is aiming to raise $300 million by April 26. The retailer filed to sell new shares at the end of March after an earlier equity rescue deal failed.

The shares rose 2.5% at 6:32 p.m. in extended New York trading after ...