Fathom Holdings and Neighborhood Intelligence, formerly Bed Bath & Beyond Inc., are exploring a revised transaction that would replace their June merger agreement. The structure would contribute substantially all of Neighborhood’s digital assets, including its approximately 38.8% direct and indirect stake in tZERO Group, Medici-related fund assets and direct investment in GrainChain, which the companies value at no less than $130 million. The assets would be exchanged for newly issued Fathom shares, with the final share count still under negotiation and Neighborhood expecting to retain control. The proposed structure is not based on Fathom’s current market capitalization, which has fallen since June. It would also allow Fathom to pursue acquisitions and explore real-estate applications for tZERO’s digital-securities infrastructure, including tokenization of commercial real estate and single-family rental portfolios. The original June transaction was an all-stock acquisition valued at about $53 million. Neighborhood recently canceled its $150 million agreement to acquire F9 Brands after the seller failed to satisfy all closing requirements within the contemplated timeframe. The revised Fathom transaction remains subject to final terms and customary approvals, and the companies did not provide a timetable for closing.