---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-172557"
form_type: "8-K"
ticker: null
cik: "0000886158"
company_name: "20230930-DK-Butterfly-1, Inc."
filed_at: "2023-06-22T23:59:59+00:00"
generated_at: "2026-06-13T19:35:38.705736+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bed Bath & Beyond selects Overstock as successful bidder for $21.5M asset sale; DIP financing approved

## Summary
- Overstock.com selected as successful bidder to acquire IP, business data, mobile apps, and certain contracts for $21.5M.
- Sale hearing set for June 27, 2023; closing expected shortly after, with termination date of July 3, 2023.
- Bankruptcy Court entered final order authorizing DIP facility: $40M new money term loan plus $200M roll-up.
- DIP proceeds to fund post-petition working capital, administrative costs, and other court-approved uses.

## SEC filing metadata
- accession: 0001193125-23-172557
- form_type: 8-K
- cik: 0000886158
- company_name: 20230930-DK-Butterfly-1, Inc.
- filed_at: 2023-06-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886158/000119312523172557/0001193125-23-172557-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886158/000119312523172557/d444406d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-172557
- JSON: https://secwatch.observer/filing/0001193125-23-172557.json
- Plain text: https://secwatch.observer/filing/0001193125-23-172557.txt

## Key facts
- Distress & Bankruptcy
  20230930-DK-Butterfly-1, Inc. entered chapter 11 in Bankruptcy Court (petition 2023-06-15).
  - Proceeding: chapter 11
  - Court: Bankruptcy Court
  - Petition: 2023-06-15
  source text: Item 1.03. Bankruptcy or Receivership. DIP Credit Agreement On June 15, 2023, the Bankruptcy Court issued a final order (the "Final Order") pursuant to the Bankruptcy Court authorizing, on a final basis, among other things: (1) entry into a senior secured super-priority debtor in possession term loan credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/886158/000119312523172557/0001193125-23-172557-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.