Completes Registration Process for Digital Voting Series A-1 Preferred Stock for Digital Dividend
SALT LAKE CITY, April 13, 2020 (GLOBE NEWSWIRE) — Overstock.com, Inc. (NASDAQ:OSTK) announces the filing today of a prospectus supplement in connection with its dividend of Digital Voting Series A-1 Preferred Stock with the Securities and Exchange Commission (SEC). This filing completes the registration process for the Digital Voting Series A-1 Preferred shares (OSTKO) with the SEC in advance of the company’s dividend issuance. No further regulatory filings are required in connection with the Series A-1 Preferred dividend.
“This filing is the next step in preparing for the issuance of our historic digital dividend,” said Overstock CEO Jonathan Johnson. “The ability to issue our shareholders a dividend using the technology we believe will backbone the next generation of capital markets is a significant opportunity for Overstock, tZERO, and our investors.”
Below are the upcoming key dates for the dividend issuance:
- Ex-Dividend Date: April 24, 2020
- Record Date: April 27, 2020
- Distribution Date: May 19, 2020
The company also filed on April 10, 2020 a prospectus supplement for its previously announced at-the-market (ATM) offering that will allow the company to take advantage of future market conditions as it indicated during its recent Q4 2019 earnings call.
Further information on Overstock and its subsidiaries can be found on the company’s Newsroom and Investor Relations pages. The company continues to provide detailed information on the dividend, including a timeline and answers to frequently asked questions (FAQs), on its website at https://www.overstock.com/dividend.
Investor Notice
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Digital Voting Series A-1 Preferred Stock (the “Series A-1”), by Overstock and its subsidiaries and affiliates and no offer, solicitation or sale of the Series A-1 shall be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933, as amended. Offers, solicitations and sales of the Series A-1 will be made only by means of a prospectus supplement and the accompanying prospectus, forming a part of an effective registration statement.
Investors should note that trading the Series A-1 shares could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity which could impact the price and ability to sell, and possible loss of principal invested.
About Overstock
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO platform:OSTKO) / Series B Preferred (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by nearly 40 million customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding its Series A-1 Preferred Digital Stock Dividend and ATM offering. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 13, 2020, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:
pr@overstock.com
Investor Contact:
ir@overstock.com
