---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-159120"
form_type: "8-K"
ticker: "BNED"
cik: "0001634117"
company_name: "Barnes & Noble Education, Inc."
filed_at: "2024-06-11T23:59:59+00:00"
generated_at: "2026-06-01T05:04:31.920974+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BNED closes $95M equity raise, $34M debt conversion, ABL refinancing, 1-for-100 reverse split

## Summary
- Received $95M gross new equity ($80M net) via $50M private investment and $45M backstopped rights offering led by Immersion (IMMR).
- Converted $34M of second lien debt (plus accrued interest) into 1,925,343,642 shares at $0.05/share.
- Amended ABL facility to $325M revolving, maturing June 2028; SOFR+3.50% (floor 2.50%), with fixed charge coverage and minimum EBITDA covenants.
- Board reconstituted: seven directors resigned; five new appointees include Eric Singer (CEO Immersion) and three others, plus two continuing directors.
- 1-for-100 reverse stock split effective June 11, 2024; shares trade on NYSE split-adjusted June 12 to regain $1.00 minimum bid compliance.

## SEC filing metadata
- accession: 0001193125-24-159120
- form_type: 8-K
- ticker: BNED
- cik: 0001634117
- company_name: Barnes & Noble Education, Inc.
- filed_at: 2024-06-11T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/d818124d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-159120
- JSON: https://secwatch.observer/filing/0001193125-24-159120.json
- Plain text: https://secwatch.observer/filing/0001193125-24-159120.txt

## Key facts
- Executive change
  Raphael Wallander resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  Vice Admiral John Ryan resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  David Golden resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  Steven Panagos resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  Rory Wallace resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  Mario Dell’Aera Jr. resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm
- Executive change
  Michael Huseby resigned as Director at Barnes & Noble Education, Inc..
  - Action: resigned
  - Role: Director
  source text: Mario Dell’Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634117/000119312524159120/0001193125-24-159120-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.