Microvast Holdings announces departure of chief financial officer
MURRAY, Utah - Beyond, Inc. (NYSE:BYON), the owner of Bed Bath & Beyond and Overstock, announced Monday it has sent a follow-up letter to tZERO’s management and board of directors urging specific actions to unlock value and capitalize on current market conditions.
As tZERO’s largest equity holder, Beyond outlined six priority actions in the letter signed by Executive Chairman Marcus Lemonis. These include filing a shelf registration or leveraging Beyond’s public platform, restructuring the board with individuals experienced in digital assets, finding global partners to drive deal flow, advancing Layer 2 strategy with execution-ready partners, launching marketing initiatives, and converting TZROP into equity. The company’s aggressive strategic moves come amid significant stock volatility, with a beta of 3.26 and a notable six-month return of 33%.
"tZERO has all the foundational ingredients to lead the digital assets space in the U.S. The licenses, IP, and early market position are there. But now it’s about execution," Lemonis stated in the letter.
Beyond specifically emphasized the importance of converting TZROP into equity, noting that as the largest TZROP holder, the company sees "far more long-term value in exchanging our revenue rights for equity." According to the letter, this conversion would simplify the capital structure, align stakeholder incentives, and provide flexibility for capital raising and partnerships.
The letter urged tZERO to "take clear, visible action now," warning against missing what Beyond considers a crucial market opportunity.
Beyond, Inc., based in Murray, Utah, owns retail brands including Bed Bath & Beyond, Overstock, and buybuy BABY, as well as a blockchain asset portfolio. The information was disclosed in a press release statement issued by the company.
In other recent news, Beyond Inc. has announced a $5.2 million expansion of its credit facility with Kirkland’s, Inc., which includes acquiring the rights to Kirkland’s brand trademarks. This move aims to strengthen Kirkland’s financial position and support a new store strategy, potentially enhancing Beyond’s brand equity and opening up new revenue streams. Additionally, Beyond’s subsidiary, Zion Peaks, Inc., successfully reached its $250,000 crowdfunding target, with the offering set to conclude in August 2025.
Beyond has also engaged with tZERO, requesting the blockchain company to explore options for a public listing. tZERO has acknowledged receipt of this request and will consider the proposal. In another development, activist investor Shay Capital has urged Beyond to unlock value from its blockchain investments, particularly focusing on its Medici Ventures portfolio. Meanwhile, Dot Ai, a company focused on asset intelligence technology, will begin trading on the Nasdaq following its merger with ShoulderUp Technology Acquisition Corp. These recent developments highlight Beyond’s strategic moves to expand its financial and operational footprint.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.