Bed Bath & Beyond Inc. secured a short-term agreement from key equity investor Hudson Bay Capital Management LP to keep their fundraising agreement intact despite a possible price failure that may have occurred because the stock dropped below $1 this week, WSJ Pro Bankruptcy reported. The temporary stock-price waiver will be until the morning of April 3, which will enable Bed Bath & Beyond to continue to raise money from its agreement with the hedge fund, which exercises warrants to continue purchasing preferred convertible shares. So far the company has raised at least $360 million through this arrangement and said that it expects to raise another $100 million in April.
