Bed Bath & Beyond has entered a definitive agreement to acquire real estate services platform Fathom Holdings for approximately $53.38 million. The deal will give Fathom shareholders 0.2236 shares of Bed Bath & Beyond common stock for each Fathom share held, subject to closing adjustments. The acquisition adds Fathom's brokerage, mortgage, title, insurance and homeowner financial services to Bed Bath & Beyond's 'Everything Home' platform, which aims to create what the company calls the nation's first end-to-end homeownership platform connecting home buying, financing and furnishing. Bed Bath & Beyond also announced that Fathom board member Adam Rothstein has been named interim CEO and vice president of finance Daniel Weinmann has been appointed CFO, both effective immediately. Shares of Fathom Holdings surged 82% on the news.
Bed Bath & Beyond, Inc.Bed Bath & Beyond acquires Fathom Holdings for $53M, expanding its 'Everything Home' platform.
Fathom Holdings IncFathom Holdings acquired at a premium; shares surged 82% on the news.