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From Home Furnishing Business
Beyond, Inc. Re-Evaluates Container Store Acquisition Per Agreement
November 20,
2024 by Karen Parrish in Business Strategy, Industry 
When Beyond entered into the Securities Purchase Agreement dated October 15, 2024, the parties agreed that The Container Store would secure new financing on terms commercially acceptable to Beyond as a condition to closing.
Given the importance of The Container Store establishing a sustainable capital structure, Beyond negotiated for and obtained a right to determine, in its sole discretion, the adequacy of The Container Store's financing arrangements.
Based on the financing proposal presented to date, Beyond has concerns regarding The Container Store’s ability to reach agreement with lenders on terms that would satisfy the financing requirements under the Purchase Agreement.
"When we signed the Purchase Agreement, we were optimistic that the Container Store would be able to secure adequate financing to support the business going forward," said Marcus Lemonis, executive chairman of Beyond, Inc.
"While we continue to believe in The Container Store’s brand and business fundamentals, the proposed financing terms we have reviewed to date fall short of what we believe is necessary to complete the transaction. As careful stewards of our shareholders' capital, we must remain steadfast in ensuring that the terms of any financing package work for both The Container Store and Beyond."
Beyond will continue to evaluate any financing proposals The Container Store may provide to Beyond. However, if The Container Store is unable to obtain commercially acceptable financing as set forth in the Purchase Agreement by January 31, 2025, then either party may terminate the Purchase Agreement.