Beyond Inc.
04/18/2024 | Press release | Distributed by Public on 04/18/2024 10:04
Material Event - Form 8-K
Item 8.01 Other Events
On March 31, 2024, Beyond, Inc. (the "Company") entered into an asset purchase agreement to sell the Wamsutta brand and certain related intellectual property assets (the "Wamsutta IP") to Indo Count Global Inc. for a total sale price of $10,250,000 in cash plus the assumption of certain liabilities. On April 18, 2024, the Company closed the transaction and received the $10,250,000 cash proceeds. The Company had acquired the Wamsutta IP in June of 2023 as part of its purchase of the Bed Bath & Beyond brand and associated intellectual property for a total purchase price of $21.5 million. With the sale of the Wamsutta IP, the Company has successfully recovered approximately 48% of its $21.5 million purchase.