Brief: Overstock.Com To Acquire Certain Assets of Bed Bath & Beyond for $21.5 Mln

Bed Bath & Beyond

13/06/2023 17:01

June 13 (Reuters) - Bed Bath & Beyond Inc  BBBYQ.PK :
    * OVERSTOCK.COM INC -  ON JUNE 12, ENTERED INTO AN ASSET
PURCHASE
AGREEMENT WITH BED BATH & BEYOND TO ACQUIRE CERTAIN ASSETS
    * OVERSTOCK.COM INC - AGREED TO ACQUIRE CERTAIN ASSETS OF
BED BATH
& BEYOND FOR TOTAL PURCHASE PRICE OF $21.5 MILLION
    * OVERSTOCK.COM -  DEAL FOR SOME ASSETS OF BED BATH & BEYOND
INCLUDING INTELLECTUAL PROPERTY, BUSINESS DATA, RIGHTS TO MOBILE
APPLICATIONS
    * OVERSTOCK.COM -  DEAL FOR SOME ASSETS OF BED BATH & BEYOND
INCLUDING CERTAIN CONTRACTS AND OTHER RELATED ASSETS
    * OVERSTOCK.COM INC - HAS DELIVERED TO AN ESCROW AGENT AN
AMOUNT
IN CASH EQUAL TO 10% OF THE PURCHASE PRICE IN IMMEDIATELY
AVAILABLE FUNDS
    * OVERSTOCK.COM INC - SUBJECT TO APPROVAL OF BANKRUPTCY
COURT,
COMPANY WILL BE DESIGNATED AS "STALKING HORSE" BIDDER UNDER U.S.
BANKRUPTCY CODE