BBBY to acquire The Container Store for ~$150M in common stock plus $54M in convertible notes

BED BATH & BEYOND, INC.

Total consideration: $150M of BBBY common stock (at $7.00/sh) and $54M of 5% convertible notes, subject to adjustments.
Conditions include TCS lender approval or foreclosure, receipt of $55M in new loans, and no restraining orders.
Support agreements signed with 80.5% of TCS equity holders and 90.8% of term loan creditors.
CFO Brian LaRose appointed effective April 28, 2026, succeeding Adrianne B. Lee; LaRose was TCS CFO since May 2025.
LaRose's employment terms: $700k salary, 125% target bonus, $2.5M sign-on equity (70% RSUs/30% PSUs) vesting over 4 years.

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