Overstock.com, Inc. (NASDAQ:OSTK) is approaching the record date
for its Digital Voting Series A-1 Preferred Stock (“OSTKO”)
dividend. All Overstock shareholders as of April 27, 2020 will
receive the dividend, which will be distributed on a 1:10 basis in
shares of OSTKO on May 19, 2020. Eligible shareholders do not need
to take any action to receive the dividend.
The Series A-1 shares have been granted DTC eligibility,
allowing them to be eligible for depository and book-entry services
at DTC, and the company has filed its prospectus supplement in
connection with the dividend.
“Overstock has long championed a new capital markets system
built on trust through technology,” said Overstock CEO Jonathan
Johnson. “This innovative dividend issuance is another step in that
direction. I’m pleased that the dividend will trade on the tZERO
platform.”
Below are key dates for the dividend issuance:
- Ex-Dividend Date: April 24, 2020
- Record Date: April 27, 2020
- Distribution Date: May 19, 2020
The company continues to provide detailed information on the
dividend, including a timeline and answers to frequently asked
questions (FAQs), on its website. For questions regarding account
setup with Dinosaur, please email the Dinosaur team directly
at securitytokensupport@dinogroup.com. For questions regarding
the tZERO ATS, contact info@tzeroats.com. For all other
questions, please contact the Overstock Investor Relations team
at ir@overstock.com.
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 its Series A-1 Preferred Digital Stock
Dividend. 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.
About tZEROtZERO Group, Inc. (“tZERO”) is
an indirectly-held majority-owned subsidiary of Overstock.com,
focusing on the development and commercialization of financial
technology (FinTech) based on cryptographically-secured,
decentralized ledgers – more commonly known as blockchain
technologies. Since its inception, tZERO has pioneered the effort
to bring greater efficiency and transparency to capital markets
through the integration of blockchain technology. For more
information on tZERO, please visit: https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and at no time
has possession of investor funds or securities in connection with
such transactions.
About tZERO ATS, LLCtZERO ATS,
LLC is an indirectly-held majority-owned subsidiary
of Overstock.com, broker-dealer registered with
the SEC and a member of FINRA and SIPC.
More information about tZERO ATS, LLC may be found
at www.finra.org.
About Dinosaur Financial Group,
LLCDinosaur Financial Group, LLC (“Dinosaur”) is a
broker-dealer registered with the SEC and a member
of FINRA, SIPC, MSRB and NFA. Dinosaur is a full service,
independent financial services firm headquartered in New York,
New York with an office in Miami, Florida. It offers
investment banking and sales and trading services across equity and
debt products for its clients. Its affiliated entities offer global
access through offices in London, United Kingdom, Milan,
Italy and Madrid, Spain. Dinosaur is not affiliated
with Overstock.com and nothing in this press release
shall be construed as an offer by Dinosaur to sell, or an offer to
buy, any security, including the Series A-1.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
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