Overstock Provides Key Dates for Upcoming Digital Dividend
November 14 2019 - 11:00AM
Overstock.com, Inc. (NASDAQ:OSTK) has released the following key
dates related to its Series A-1 Preferred Digital Dividend. These
dates were first announced during Overstock’s Q3 2019 earnings
call, which was held on November 12, 2019:
Proxy Vote:
- Proxy Vote Record Date: December 18, 2019
- Proxy Vote Date: February 13, 2020
Issuance of Dividend (pending proxy vote
approval):
- Issuance Record Date: February 24, 2020 (estimated)
- Distribution Date: March 9, 2020 (estimated)
“This shareholder vote will significantly improve the value of
the Series A-1 shares and be worth the wait for shareholders.
The proxy vote is an important step for the first dividend of its
kind that will give our shareholders access to the next generation
of capital markets powered by tZERO. The vote gives our
shareholders the opportunity to voice their view on the application
of blockchain technology to the securities markets,” said Overstock
CEO Jonathan Johnson. “We intend to have the Series A-1 OSTKO
digital dividend in our shareholders’ hands within a month of
shareholder approval. Assuming shareholder approval on February 13,
I am confident we can.”
As previously announced, Overstock is seeking to register the
Series A-1 shares with the Securities and Exchange Commission so
they will be freely tradable upon distribution.
The company will continue to provide updates on the digital
dividend, and all other company matters, on its Newsroom and
Investor Relations pages as they become available.
Investor Notice This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the Series A-1 Preferred and no offer, solicitation or sale of the
Series A-1 Preferred 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
Preferred 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. Investors can
only trade the Series A-1 shares on the PRO Securities ATS through
an account established with an ATS-subscribing broker-dealer, such
as Dinosaur, with clearing and carrying of Series A-1 positions
provided by ETC, a registered broker-dealer, and
with Computershare as transfer agent.
No Offer, Solicitation, Investment Advice or
Recommendations This release is for informational purposes
only and does not constitute an offer to sell, a solicitation to
buy, or a recommendation for any security, nor does it constitute
an offer to provide investment advisory or other services by
Overstock or any of its affiliates, subsidiaries, officers,
directors or employees. No reference to any specific security
constitutes a recommendation to buy, sell or hold that security or
any other security. Nothing in this release shall be considered a
solicitation or offer to buy or sell any security, future, option
or other financial instrument or to offer or provide any investment
advice or service to any person in any jurisdiction. Nothing
contained in this release constitutes investment advice or offers
any opinion with respect to the suitability of any security, and
the views expressed in this release should not be taken as advice
to buy, sell or hold any security. In preparing the information
contained in this release, we have not taken into account the
investment needs, objectives and financial circumstances of any
particular investor. This information has no regard to the specific
investment objectives, financial situation and particular needs of
any specific recipient of this information and investments
discussed may not be suitable for all investors. Any views
expressed in this release by us were prepared based upon the
information available to us at the time such views were written.
Changed or additional information could cause such views to change.
All information is subject to possible correction. Information may
quickly become unreliable for various reasons, including changes in
market conditions or economic circumstances.
About Overstock.comOverstock.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 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 developing and accelerating 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.
Forward-Looking StatementsThis 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 our expectations surrounding the
Series A-1 dividend, its registration, the record and payment date,
and any time estimates for such events. 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 Form 10-Q for the quarter
ended September 30, 2019, which was filed with
the SEC on November 12, 2019, and any subsequent
filings with the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
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