Beyond chairman requests tZERO take action to create shareholder value

Beyond (BYON) announced that it provided a letter to tZERO’s management and board of directors requesting immediate action to create shareholder value. Marcus Lemonis, executive chairman and principal executive officer, commented, “After experiencing the capabilities at tZERO through two solid token offerings, assessing the favorable market conditions for peers in this space, and having increased confidence in tZERO’s management team, we believe the time is now for tZERO to improve shareholder value by evaluating various options to become a listed company, whether directly, through an IPO, or via a special purpose acquisition company, on the New York Stock Exchange.” According to Lemonis, a letter was sent to tZERO on behalf of the company’s executive management and board of directors demanding immediate due diligence and a call to action. Lemonis concluded, “With its regulatory infrastructure, leadership, backing, and innovative framework, tZERO is poised and ready to enter this blockchain-favorable market.” Th letter said in part, “I hope this message finds you well. On behalf of Beyond, Inc.’s executive management and its Board of Directors, I want to outline our expectation that the tZERO management team and Board of Directors explore opportunities to create shareholder value in this blockchain-favorable market for its longstanding investor base. We believe the best current opportunity is to explore taking T0 public through an Initial Public Offering or alternative on the New York Stock Exchange. After years of substantial investment, increased innovation, and shareholder patience, we believe T0 is at an exceptional inflection point-ready for the market stage supported by a favorable blockchain-friendly backdrop… In closing, this is a pivotal time for T0. We believe that a public listing on NYSE could magnify its strengths, secure its market leadership, and deliver shareholder value. I look forward to discussing this further and working with you to take T0 to its next level.”