Overstock Granted DTC Eligibility for Digital Voting Series A-1 Preferred Stock
April 08 2020 - 08:30AM
Overstock.com, Inc. (NASDAQ:OSTK) announces that, as expected,
The Depository Trust Company (DTC) granted eligibility to the
company’s Digital Voting Series A-1 Preferred Stock, OSTKO, on
April 7, 2020. DTC eligibility allows shares of OSTKO to be
eligible for depository and book-entry services at DTC.
“This is a long-awaited moment for Overstock and our
shareholders, as DTC’s grant of eligibility removes a hurdle to
issuing our innovative digital dividend,” said Overstock CEO
Jonathan Johnson. “DTC eligibility will make the dividend easier
for broker dealers to process on behalf of our shareholders.”
Overstock expects NASDAQ to issue an ex-dividend date in the
coming days.
The company continues to provide detailed information on the
divided, 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 OverstockOverstock.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 the setting of an ex-dividend date by NASDAQ.
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
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