Bed Bath & Beyond (BBBY) Amends Equity Offering Agreement

Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced an amendment to its warrants to purchase Series A Convertible Preferred Stock previously issued on February 7, 2023. Under the amendment, the Company is temporarily adjusting the Price Failure threshold ("Price Failure") to $1.00 until April 3, 2023. In addition, the Threshold Share Amount referenced in the Price Failure definition is increased to 24,739. This amendment will further facilitate up to $100 million of additional funding in April 2023, for a cumulative total of $460 million to date.

Sue Gove, President & CEO of Bed Bath & Beyond Inc. said, "The funding we have raised over the past month has supported our ongoing operations and enabled us to begin reinvesting in valuable inventory to fulfill customer demand. We will continue to consider thoughtful and essential actions that can enhance our business operations and accelerate results for customers, associates, suppliers and shareholders over the long-term."

About the Company

Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of merchandise primarily in the Home and Baby markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

The Company operates websites at bedbathandbeyond.com and buybuybaby.com.

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