Bed Bath & Beyond Inc. (BBBY) shares fell 21.3% on Wednesday after the home-goods retailer announced in a filing that it may offer, issue, and sell shares of the common stock from time to time. In the after-hours session, the BBBY stock was down by 3.57%.

As per the company Filings, these securities may be offered together or separately and in one or more series, if any, in amounts, at prices, and on other terms to be determined at the time of the offering and described in an accompanying prospectus supplement. Each time the company offers securities, it will provide a prospectus supplement that will contain specific information about the terms of that offering. The company may offer and sell these securities through one or more underwriters, dealers, or agents, through underwriting syndicates managed or co-managed by one or more underwriters, or directly to purchasers, on a continuous or delayed basis.

The company said it plans to use the net proceeds from any sale of the securities for general corporate purposes, which may include repayment of the debt, future repurchases of common stock, and financing of possible acquisitions. The net proceeds may be invested temporarily in short-term marketable securities or applied to repay short-term debt until they are used for their stated purpose.

Also Read: Bed Bath & Beyond: The story behind the rise and crash of BBBY stock

The announcement comes before the opening bell as investors are gearing up for a strategic update from the home-goods retailer.

BBBY Stock: Here’s why Bed Bath & Beyond share price is falling

Bed Bath & Beyond shares had a volatile month due to a resurgence in retail trading interest. In the middle of August, the stock soared from a low of $4.89 to an intraday high of $30 before trimming its gains. Recently, it came under pressure after well-known investor Ryan Cohen sold his stock in the company, but it recovered thanks to the prospect of new funding.

Overall, the shares are down 16.94% this year due to concerns about a drop in sales and some suppliers stopping or limiting shipments. The transfer agent and registrar for our common stock are American Stock Transfer & Trust Company.