Overstock enters $21.5M stalking-horse bid for Bed Bath & Beyond IP, data, mobile apps

BED BATH & BEYOND, INC.

Purchase price $21.5M cash; 10% ($2.15M) deposited in escrow.
Acquires IP, business data, mobile apps, and contracts of Bed Bath & Beyond's core home furnishings brand.
Stalking horse bid in Chapter 11 auction; subject to higher offers and Bankruptcy Court approval.
Closing target July 3, 2023; breakup fee protections if Sellers accept a competing bid.
Representations and warranties survive only until Closing; no post-closing indemnity.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BED BATH & BEYOND, INC. entered into Asset Purchase Agreement with Overstock.com, Inc. valued at $21,500,000 (effective 2023-06-12).

Action: entry
Agreement: asset purchase
Counterparty: Overstock.com, Inc.
Value: $21,500,000
Effective: 2023-06-12

Exact text from the filing

On June 12, 2023, Overstock.com, Inc., a Delaware corporation (the “ Company ”), entered into an Asset Purchase Agreement (the “ Agreement ”) with Bed Bath & Beyond Inc., a New York corporation (“ BBBY ”), and certain subsidiaries of BBBY (collectively, the “ Sellers ”), under which, subject to the terms and conditions set forth in the Agreement, the Company agreed to acquire certain assets of the Sellers, including intellectual property, business data, rights to mobile applications, and certain contracts and other related assets (collectively, the “ Assets ”), and assume certain specified liabilities of the Sellers (collectively, the “ Liabilities ” and such acquisition of the Assets and assumption of the Liabilities, the “ Transaction ”) for a total purchase price of $21,500,000

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BED BATH & BEYOND, INC. filing history →

Source: SEC EDGAR

accession 0001140361-23-029505

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