Press Release
View printer-friendly version << Back“With this filing, we are another step closer to the issuance of a dividend of shares of Series A-1 Preferred,” said Overstock CEO
As previously announced, the company is seeking shareholder approval to change the terms of the Certificates of Designation for its Digital Voting Series A-1 Preferred Stock, OSTKO, and Voting Series B Preferred Stock. Shareholders will vote on whether to reallocate the number of preferred shares in order to pay the dividend on a 1:10 basis and to remove restrictions regarding the holding of digital shares. The company anticipates registering the Series A-1 Preferred with the SEC under the Securities Act of 1933 so that the Series A-1 Preferred will be freely tradable by non-affiliates upon distribution.
The proxy vote date, which was first announced during Overstock’s Q3 2019 earnings call, will be held on
The company will continue to provide updates on the proposed dividend, and all other company matters, on its Newsroom and Investor Relations pages as they become available.
About Overstock.com
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 Digital Voting Series A-1 Preferred Stock will be made only by means of a prospectus supplement and the accompanying prospectus, forming a part of an effective registration statement.
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 our expectations regarding the declaration and payment of a dividend in shares of Series A-1 Preferred and the registration of the Series A-1 Preferred under the Securities Act of 1933. 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 definitive proxy statement dated
SOURCE: Overstock.com, Inc.
Media Contact:
pr@overstock.com
Investor Contact:
ir@overstock.com
Source: Overstock.com, Inc.