All shareholders as of April 27, 2020 will receive the Digital Voting Series A-1 Preferred Stock dividend
SALT LAKE CITY, April 20, 2020 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (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 email@example.com. For questions regarding the tZERO ATS, contact firstname.lastname@example.org. For all other questions, please contact the Overstock Investor Relations team at email@example.com.
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.
Overstock.com, Inc Common Shares (OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO platform:OSTKO) / Series B Preferred (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.
tZERO 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, LLC
tZERO 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, LLC
Dinosaur 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.