On March 31, Beyond Entered Into Asset Purchase Agreement To Sell Wamsutta Brand & Certain Related Intellectual Property Assets To Indo Count Global; Deal For $10.25M In Cash Plus Assumption Of Certain Liabilities
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Beyond entered into an asset purchase agreement to sell the Wamsutta brand and certain related intellectual property assets to Indo Count Global for $10.25 million in cash plus the assumption of certain liabilities, according to an SEC filing.
April 18, 2024 | 4:12 pm
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Beyond's sale of the Wamsutta brand to Indo Count Global for $10.25M in cash plus liabilities could provide a financial boost.
The sale of the Wamsutta brand and related IP assets to Indo Count Global for $10.25 million in cash, along with the assumption of certain liabilities, is likely to have a positive short-term impact on Beyond's financial health. This influx of cash could be used to pay down debt, reinvest in core business areas, or return value to shareholders, all of which could be viewed positively by investors. The assumption of certain liabilities by Indo Count Global further alleviates financial burdens on Beyond, potentially improving its balance sheet.
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