Beyond provides $17M debt and invests $8M in Kirkland's; licenses Bed Bath & Beyond brand for stores

BED BATH & BEYOND, INC.

Provides $17M secured term loan to Kirkland's ($8.5M promissory note + $8.5M convertible note at $1.85/sh).
To invest $8M in Kirkland's common stock via Subscription Agreement; may own up to ~40% of Kirkland's if fully converted.
Licenses 'Bed Bath & Beyond' brand to Kirkland's for up to 5 neighborhood-format stores; receives 3% royalty on net sales.
Will receive quarterly fee of 0.25% on Kirkland's retail revenue and 1.5% incentive on incremental e-commerce revenue.
Also obtains $25M revolving credit line from BMO Bank to fund strategic ventures, maturing Oct 2025 at SOFR+1%.

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