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Shares of the Digital Voting Series A-1 Preferred Stock:
- are preferred shares of
- have equivalent voting rights to common shares of Overstock.
- have an equivalent liquidation preference to common shares of Overstock.
- have a preferential right to an annual cash dividend of
$0.16per share, when declared, which has been paid in each of the last three years.
- are required to trade on the tZERO ATS, in accordance with the stock’s Certificate of Designation as filed with the
State of Delawareand included in Overstock’s filings with the Securities and Exchange Commission(SEC).
In order to trade the Series A-1 shares in compliance with the Certificate of Designation, investors must open or have a brokerage account with a tZERO ATS-subscribing broker-dealer, or with a broker-dealer that maintains an account with a tZERO ATS-subscribing broker-dealer.
Instructions for creating an account with a subscribing broker dealer can be found on the company’s FAQ page. Broker-dealers interested in subscribing to the tZERO ATS should contact the Overstock investor relations team at firstname.lastname@example.org.
Investors should note that trading digital securities 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. Further, an investment in single digital security could mean lack of diversification and, consequently, higher risk.
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 corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
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 future dividend payments on the Company’s preferred shares and other statements regarding the Digital Voting Series A-1 Preferred Stock. 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, the Company’s Quarterly Report on Form 10-Q for the quarter ended
SOURCE: Overstock.com, Inc.
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
Overstock Media Relations
Source: Overstock.com, Inc.