Beyond, Inc. Completes Asset Acquisition/Disposition
Ticker: BBBY-WT · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1130713
Sentiment: neutral
Topics: acquisition, disposition, corporate-event
Related Tickers: OSTK
TL;DR
Beyond, Inc. just closed a deal on assets - big changes coming.
AI Summary
On December 20, 2024, Beyond, Inc. (formerly Overstock.com, Inc.) filed an 8-K report detailing the completion of an acquisition or disposition of assets. The filing indicates a significant corporate event has occurred, though specific details of the transaction, including parties involved and financial figures, are not elaborated upon in this summary section of the filing.
Why It Matters
This filing signals a material change in Beyond, Inc.'s business operations, potentially impacting its market position and future strategy.
Risk Assessment
Risk Level: medium — The nature of the asset acquisition or disposition is not detailed, leaving uncertainty about its financial implications and strategic fit.
Key Players & Entities
- Beyond, Inc. (company) — Registrant
- Overstock.com, Inc. (company) — Former name of Registrant
- December 20, 2024 (date) — Date of Report
FAQ
What specific assets were acquired or disposed of by Beyond, Inc.?
The provided filing excerpt does not specify the exact assets involved in the acquisition or disposition.
Who were the other parties involved in this transaction?
The filing does not name the counterparty or counterparties to the asset acquisition or disposition.
What was the financial value of the completed transaction?
The financial terms and dollar amounts associated with the asset acquisition or disposition are not detailed in this section of the filing.
When did the event triggering this 8-K filing occur?
The earliest event reported, which is the completion of the acquisition or disposition of assets, occurred on December 20, 2024.
What is the primary business of Beyond, Inc.?
Beyond, Inc. is classified under the SIC code 5961 as a Retail - Catalog & Mail-Order Houses.
Filing Stats: 758 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-12-20 16:06:24
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share BYON New York Stock
- $52.0 million — tion of the Buyer and renegotiation, is $52.0 million. The Headquarters had been subject to a
- $34.5 m — imate balance amount owed at closing of $34.5 million, which balance was repaid through
Filing Documents
- ostk-20241220.htm (8-K) — 26KB
- 0001130713-24-000091.txt ( ) — 147KB
- ostk-20241220.xsd (EX-101.SCH) — 2KB
- ostk-20241220_lab.xml (EX-101.LAB) — 21KB
- ostk-20241220_pre.xml (EX-101.PRE) — 12KB
- ostk-20241220_htm.xml (XML) — 3KB
01 Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets. On December 20, 2024 (the "Closing Date"), Beyond, Inc. (the "Company"), through its wholly owned subsidiary Peace Coliseum, LLC, and Salt Lake County, a body corporate and politic of the State of Utah (the "Buyer"), consummated the final agreement (the "Agreement") for the Company to sell its corporate headquarters located at 799 West Coliseum Way, Midvale, Utah. The transaction includes an 18.6 acre parcel of land with improvements including the corporate headquarters building ("Headquarters"), as previously reported on Form 8-K filed September 17, 2024. The sales price for the Headquarters, following inspection of the Buyer and renegotiation, is $52.0 million. The Headquarters had been subject to a loan obtained by the Company from Loancore Capital Markets LLC with an approximate balance amount owed at closing of $34.5 million, which balance was repaid through a defeasance process on the Closing Date, including through the purchase of certain securities which were substituted as collateral for such loan. As part of the Agreement, the Company and the Buyer negotiated a lease agreement that allows 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 has an initial term of five years, subject to the Company's right to terminate upon providing 30 days' notice to Buyer. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to sta