Beyond invests $40M in The Container Store for ~40% stake; strategic partnership includes Bed Bath & Beyond brand

BED BATH & BEYOND, INC.

Beyond to invest $40M in TCS via Series B Preferred convertible to common at $17.25/share.
Upon conversion and conditions, Beyond would own ~40% of TCS common equity.
Partnership to license Bed Bath & Beyond brand in TCS stores and integrate TCS's Custom Spaces into Beyond's e-commerce.
TCS must refinance/amend credit facilities to Beyond's satisfaction and obtain shareholder approval for conversion.
TCS also entered into an amendment of its existing term loan credit agreement with JPMorgan Chase.

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