Here's what we are reading this morning:
Incora Faces Cash Crunch, New Lawsuit Ahead of Debt Payments: The Platinum Equity-owned aerospace supplier risks running out of cash later this year with around $200 million in interest payments due.
Bed Bath & Beyond Inc. Launches New $300 Million At-the-Market Offering Program: Bed Bath & Beyond Inc. announced that it filed a prospectus supplement under which it may offer and sell up to $300 million of shares of its common stock from time to time through an "at-the-market" offering program.
Bed Bath & Beyond Inc. Enters into Committed Equity Facility for Additional Funding, Terminates Previously Issued Warrants for Series A Convertible Preferred Stock: Bed Bath & Beyond Inc. announced that concurrent with a new, At-The-Market offering program, it has also entered into a common stock purchase agreement and a registration rights agreement with B. Riley Principal Capital II, LLC to provide additional capital to the Company.
Jobless claims edge up to 198,000, higher than expected: Jobless claims rose 7,000 from the previous period and were a bit higher than the 195,000 estimate.
Bed Bath & Beyond Terminates Hudson Bay Deal, Turns to Market To Raise $300 Million - WSJ: The distressed retailer is terminating its previous equity deal with Hudson Bay Capital and seeking to tap the retail market instead.
Virgin Orbit fails to secure funding, ceasing operations, conducting layoffs: Virgin Orbit CEO Dan Hart gave employees an update in an all-hands meeting on Thursday, according to audio obtained by CNBC.
KKR’s Envision Lenders Tap Advisers as Business Concerns Mount: A group of lenders to KKR & Co.’s Envision Healthcare Corp. has retained advisers as the physician staffing company’s performance continues to struggle, according to people with knowledge of the matter.
Exicure Warns of Need to Raise Additional Funds to Keep Operating: The biotech startup said it has doubts on its ability to continue as a going concern without ‘substantial additional financing.’
Applied Molecular Transport to Explore Strategic Alternatives, Reduce Head Count by 57%: Applied Molecular Transport Inc. on Monday said it would explore strategic alternatives as it reduces its workforce and changes leadership.