The stock of Big Lots Inc. Big, -1.87% rose 4.1% on Wednesday in premarket trading after the retailer announced it had signed a leaseback and sale agreement with Blue Owl Capital affiliates for gross proceeds totaling $318 million. The company announced May 24 that it had signed a letter-of-intent for the deal. It includes 26 stores and its distribution center in Apple Valley. Big Lots will use the $100 million sale and leaseback to fully pay off its synthetic lease for the Apple Valley distribution centre, as well as to pay down any debt. Big Lots CEO Bruce Thorn said in a press release that the company is “highly focused” on having enough liquidity to survive this period of macroeconomic challenge. Monetizing these assets will help ensure such liquidity.