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Subscription Agreements | 12 Months Ended
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Feb. 01, 2025
Equity [Abstract] |
Subscription Agreements | Note 6 — Subscription Agreements On October 21, 2024, the Company and Beyond entered into the Beyond Subscription Agreement, pursuant to which, upon the approval of Kirkland’s shareholders at the Special Shareholders Meeting, Beyond will purchase $8 million of Common Stock at a price of $1.85 per share for a total of 4,324,324 shares. If the $8 million equity purchase under the Beyond Subscription Agreement and the mandatory conversion of the Convertible Term Loan are both approved at the Special Shareholders Meeting, the Company will receive additional proceeds of $8 million, and the Convertible Term Loan with accrued interest will convert to equity. See “Note 15 — Subsequent Events” for further discussion. On October 18, 2024, the Company and Consensus Securities LLC (“Consensus”), the Company’s financial advisor, entered into a subscription agreement (the “Consensus Subscription Agreement”), pursuant to which, upon the completion of the Beyond transaction, the Company will issue 310,135 shares of Common Stock to Consensus, as a partial payment of a success fee earned by Consensus in connection with the Beyond transaction. The shares of Common Stock will be calculated based on a price of $1.85 per share in lieu of a payment of $537,750 towards the success fee. See “Note 15 — Subsequent Events” for further discussion.

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