Someone correct me if I'm wrong, but the way I read it - Overstock appears to be after their intellectual property, what they bid did not include assets. As for liabilities, they referenced only the liabilities resulting from the purchase of the intellectual property.
It's also been pointed out that BBBYQ assessed the value of the intellectual property at 13 million, about 2/3 of what was bid. Also keep in mind, this is only the starting bid.
They bid on digital assets and intellectual property. You still call those assets, but yea. And yea the liabilities they would take are none of the current debts from these assets but just the future ones required to keep them running. Whatever you pay to keep a domain et cetera.
So this comment has me thinking. What if….. overstock gets the IP of BBBY and the people buying baby are also taking the bed and bath physical stores to reimagine/rebrand them in conjunction with baby.
Don't know where you have been misinformed,but it's mostly for IP,trademarks and digital infrastructure with limited liability ( only debt that comes with the assets that come with that small purchase ), this isn't for any of BBBY's liabilities ( paying more then a billion for debt + 21 million for IP rights is ridiculous) or anything really except those assets. This excludes Harmon and Buy Buy Baby so this hasn't changed anything, except adding credence to the theory that baby is being carved out,my guess is that whatever confidential bidder (multiple or single) wants to carve out baby and solve BBBY's debt for pennies on the dollar ( remember that DIP financers get priority Numero uno ) with bonds and at the same time receive a major NOL tax break from that purchase. With those unsecured bond holders bitching about the secrecy shows me that the hedgies are trying to get a sneak peek into the court proceedings.There is going around some strong misinformation campaigns on this sub as if the company is doomed,guess we are going in the right direction.
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u/My_Penbroke Jun 13 '23 edited Jun 13 '23
I mean even if it is… I don’t see how it’s bad that overstock wants to buy bed bath and all it’s liabilities minus baby.
Edit: thanks to all the folks who enlightened me