Kirkland's (KIRK) said late Wednesday it has finalized a $25 million investment from Beyond (BYON), which now owns roughly 40% of the home decor and furnishing retailer's outstanding common shares.

Kirkland's said Beyond completed both an $8 million equity purchase under a subscription agreement and the mandatory conversion of an $8.5 million convertible term loan under a term loan credit agreement.

Kirkland's shares were up 8% in after-hours activity, while Beyond rose nearly 1%.