Beyond, Inc. obtains ~40% stake in Kirkland's after debt conversion and $8M investment

BED BATH & BEYOND, INC.

Kirkland's stockholders approved conversion of $8.5M convertible debt (plus accrued interest) held by Beyond into common stock.
Stockholders also approved Beyond's $8M investment in Kirkland's for common shares per Subscription Agreement.
Beyond now owns approximately 40% of Kirkland's outstanding common stock.
Beyond has right to designate two independent directors to Kirkland's board as long as it holds at least 20% ownership.
Beyond also has right to appoint one non-voting observer to Kirkland's board as long as it holds at least 5% ownership.

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