Kirkland’s (KIRK) announced that the company’s shareholders, in accordance with applicable Nasdaq Listing Rules at a Special Meeting of the Shareholders concluded on February 5, have approved the issuances of shares of common stock pursuant to the Term Loan Credit Agreement and Subscription Agreement previously entered into with Beyond (BYON) on October 21, 2024. Following the Special Meeting in which the company obtained the requisite shareholder approvals, with 97% of votes cast in favor of the proposal, Beyond completed both an $8M equity purchase under the Subscription Agreement and the mandatory conversion of an $8.5M convertible term loan under the Term Loan Credit Agreement. With the completion of this transaction, Beyond has now provided Kirkland’s with a total of $25M of capital and now owns approximately 40% of Kirkland’s outstanding shares of common stock.
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