Beyond, Inc. Files 8-K for Material Agreement

Ticker: BBBY-WT · Form: 8-K · Filed: Sep 17, 2024 · CIK: 1130713

Sentiment: neutral

Topics: material-agreement, corporate-action, filing

Related Tickers: OSTK

TL;DR

Beyond, Inc. (OSTK) signed a big deal, filing an 8-K today.

AI Summary

On September 16, 2024, Beyond, Inc. (formerly Overstock.com, Inc.) entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this event. The company is incorporated in Delaware and its principal executive offices are located in Midvale, Utah.

Why It Matters

This filing indicates a significant new agreement for Beyond, Inc., which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's future performance.

Key Numbers

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by Beyond, Inc. on September 16, 2024?

The filing does not specify the exact nature of the material definitive agreement, only that one was entered into.

What was Beyond, Inc. formerly known as?

Beyond, Inc. was formerly known as Overstock.com, Inc.

Where are Beyond, Inc.'s principal executive offices located?

Beyond, Inc.'s principal executive offices are located at 799 W. Coliseum Way, Midvale, Utah 84047.

What is the SEC file number for Beyond, Inc.?

The SEC file number for Beyond, Inc. is 001-41850.

What is the fiscal year end for Beyond, Inc.?

Beyond, Inc.'s fiscal year ends on December 31.

Filing Stats: 1,127 words · 5 min read · ~4 pages · Grade level 13 · Accepted 2024-09-17 08:08:50

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 16, 2024 (the "Acceptance Date"), Beyond, Inc., through its wholly owned subsidiary Peace Coliseum, LLC (the "Company"), entered into an agreement (the "Agreement") with Salt Lake County, a body corporate and politic of the State of Utah (the "Buyer"), to sell the Company's corporate headquarters located at 799 West Coliseum Way, Midvale, Utah, including an 18.6 acre parcel of land with improvements including the corporate building (the "Headquarters"). The Company's Headquarters were previously reported as an asset held for sale in the Company's property and equipment in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 23, 2024. The sale price of the Headquarters is $55.0 million, inclusive of a $1.0 million earnest money payment to be deposited within five business days of the Acceptance Date. The Company and the Buyer have agreed to consummate the sale and purchase of the Headquarters on or before November 30, 2024 (the "Closing Date"). The Headquarters is currently subject to a loan from Loancore Capital Markets LLC obtained by the Company with an approximate balance amount owed of $34.5 million, which balance will be repaid through a defeasance process on or near the Closing Date, including through the purchase of certain securities which will be substituted as collateral for such loan. As part of the Agreement, the Company and the Buyer have agreed to negotiate a lease agreement that would allow the Company to continue to occupy and use the Headquarters' data center, comprising approximately 5,000 square feet within the main building at the Headquarters, and permit the data center to continue to be served by the existing building generators ("Data Center Lease"). Among other terms, the Data Center Lease is intended to have an initial term of up to five years. Other terms of the Data Center Lease are to be negotiated during the period of time

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 10.1 Agreement for Purchase and Sale of Real Property and Escrow Instructions, dated September 16, 2024, between Peace Coliseum, LLC and Salt Lake County 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEYOND, INC. By: /s/ E. Glen Nickle E. Glen Nickle Chief Legal Officer Date: September 17, 2024 3

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