O’Melveny Represents B. Riley Securities as Sole Bookrunner on Public Equity Offering of Bed Bath & Beyond

FOR IMMEDIATE RELEASE

NEW YORK—February 21, 2023—O’Melveny represented B. Riley Securities, Inc., a leading middle market investment bank, as sole bookrunner on an underwritten public offering of Bed Bath & Beyond Inc. (Nasdaq: BBBY) Series A convertible preferred stock and warrants.

The transaction was announced on February 7.

A wholly owned subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), B. Riley Securities provides corporate finance, advisory, research, and sales and trading services that include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, corporate restructuring, and recapitalization.

Bed Bath & Beyond Inc. is an omnichannel retailer that makes it easy for its customers to feel at home. The company, which operates under the names Bed Bath & Beyond and buybuy BABY, sells a wide assortment of merchandise including bedding, bath, kitchen food prep, home organization, indoor décor, and baby and personal care.

The O’Melveny team advising B. Riley Securities was led by partners Jeeho Lee, C. Brophy Christensen, Dave Johnson and Alex Anderson, counsel Tai Vivatvaraphol and Dawn Lim and associates Andi Hasaj and Hayley Wolf.

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B. Riley Securities issued the following announcement:

B. Riley Securities Serves as Sole Bookrunner on Bed Bath & Beyond $1.025bn Public Equity Offering

LOS ANGELES, Feb. 8, 2023 – B. Riley Securities, Inc., a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as sole bookrunner on a successful underwritten public offering of Bed Bath & Beyond Inc. (Nasdaq: BBBY) Series A convertible preferred stock and warrants.

The offering resulted in initial gross proceeds of approximately $225 million and an additional approximate $800 million of gross proceeds in future installments, assuming certain conditions are met.

Sue Gove, President & CEO of Bed Bath & Beyond Inc. said, "This transformative transaction will provide runway to execute our turnaround plan. We continue to put our customers at the center of every decision, positioning Bed Bath & Beyond to meet and exceed their expectations, while resetting our foundation for near- and long-term success. We are optimizing our store fleet and supply chain and continuing to invest in our omni-always capabilities. This will enable us to better serve our customers, and grow profitably, by directing merchandise where and how they want to shop with us. We are also prioritizing availability of leading national and emerging direct-to-consumer brands our customers know and love. As we make important strategic and operational changes, we will continue to take disciplined steps to enhance our cost base and improve our financial position."

Bed Bath & Beyond is an omni-channel retailer that sells a wide assortment of merchandise including bedding, bath, kitchen food prep, home organization, indoor décor, baby and personal care and operates under the names Bed Bath & Beyond and buybuy BABY.

B. Riley Securities’ deal team included Jimmy Baker, Dawn Farrell, Kathy Innis, Ryan Aceto, Alex Shaffer and Riley Slusarski. For more information, contact Jimmy Baker at 703.312.9603.

About B. Riley Securities

B. Riley Securities is a leading middle market investment bank that provides corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY). For more information, visit www.brileysecurities.com.

Media Contact:

Jo Anne McCusker

B. Riley Financial

press@brileyfin.com

(646) 885-5425