By Katherine Hamilton
Barnes & Noble Education shares fell on Friday after the company said it agreed to issue and sell shares worth up to $40 million in aggregate.
The stock declined 8% to $10.21 in afternoon trading. It has lost 94% of its value this year.
The company, which operates bookstores in schools and universities, said it plans to sell the shares through an "at-the-market" equity offering program under which BTIG will act as sales agent.
The agreement went into effect Friday, and any associated share sales will be made under the company's shelf registration with the Securities and Exchange Commission, which was filed last week.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 20, 2024 14:39 ET (19:39 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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