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.
