Signage outside a Bed Bath & Beyond retail store in New York, Aug. 25, 2022.Gabby Jones | Bloomberg | Getty ImagesBed Bath & Beyond shares dropped after the retailer turned meme stock said in a filing it would sell shares of an undisclosed amount.The shares dropped 19% in premarket trading.”We may offer, issue and sell shares of our common stock from time to time,” the company said in the Wednesday filing to the SEC. Under the shelf process, the company can sell the securities listed in one or more offerings. “Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering,” the filing said. The document also notes that the company plans to use net proceeds from any sale of securities for “general corporate purposes” including repaying debt, share repurchases or financing possible acquisitions. Turnaround plan incoming The filing comes just hours before Bed Bath & Beyond is expected to outline a turnaround plan Wednesday in an attempt to win back the confidence of shoppers, investors and suppliers. Some investors had been calling for the retailer to capitalize on its meme status by issuing stock to raise much-needed cash.The company had said previously that it was working with financial advisors and lenders to strengthen its balance sheet. In the most recent quarter, the retailer’s net loss widened, and the company ended May with about $100 million in cash, down from $1.1 billion a year ago. It also may be in the process of securing a loan — The Wall Street Journal reported last week that the company and asset manager Sixth Street Partners are nearing final terms on a loan of nearly $400 million. Sixth Street and Bed Bath did not respond to CNBC’s requests for comment.Aside from its financials, the company may also address how it plans to lure back shoppers, shore up issues with its supply chain and move inventory. Investors are also awaiting more information about a potential sale or spinoff of its Buybuy Baby brand. Meme stock runup Bed Bath & Beyond shares surged in August as an overall market comeback encouraged so-called meme traders to take some risk again in the troubled and heavily-shorted retailer. The stock’s move gained momentum throughout the month as small traders talked up the stock on Reddit message boards and hedge funds were forced to cover their bets against it.The enthusiasm of meme traders was dented a bit and the stock came of its highs after activist investor Ryan Cohen sold his sizable position in Bed Bath & Beyond. The stock through Tuesday’s close was still up more than 140% this month.CNBC’s Melissa Repko contributed reporting. This is a developing story. Check back for updates.