GameStop chairman Ryan Cohen has sold his entire position in Bed Bath & Beyond (BBBY), a filing with the SEC on Thursday revealed.

Cohen had owned stock and options representing over 9.4 million shares of the retailer, or 11.8% of the company.

In addition to news Cohen sold his stake in Bed, Bath & Beyond, Bloomberg reported late Thursday the company has hired law firm Kirkland & Ellis to address its swelling debt load.

Shares of Bed Bath & Beyond were down as much as 34% in after-hours trading following this news.

The confirmation of Cohen's sale comes just a day after Cohen's RC Ventures filed a Form 144 with the Securities and Exchange Commission outlining plans to unload the stake. Bed Bath & Beyond shares fell more than 19% on Wednesday.

Cohen's filing with the SEC on Thursday revealed the position was sold down during Tuesday and Wednesday's trading sessions.

According to RC Ventures' Form 144 filing, Cohen's position in Bed, Bath & Beyond was worth more than $148 million as of Monday, Aug. 15. Shares of Bed Bath & Beyond gained over 50% between Monday and Wednesday's market close this week.

Cohen initially disclosed a 9.8% stake in the company back in March, saying in a filing at the time he planned to engage with the board on strategic alternatives, including a possible spin-off of the company's buybuy Baby brand.

Cohen, who co-founded online pet product retailer Chewy (CHWY) back in 2011, has become a darling of the meme stock market given his involvement at GameStop (GME), where he now serves as chairman of the board.

As of March 2022, RC Ventures held an 11.9% stake in the video game retailer.

Cohen's 13D filing back in March showed the Chewy co-founder spent just under $120 million acquiring shares of the company and another $1.8 million call options, indicating the average purchase price was around $15.30 per share; Thursday's filing shows the bulk of Cohen's sales took place in the low $20s.