SALT LAKE CITY, April 08, 2020 (GLOBE NEWSWIRE) -- 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.

About Overstock
Overstock.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 the setting of an ex-dividend date by NASDAQ. 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.
SOURCE: Overstock.com, Inc.

Media Contact:
pr@overstock.com

Investor Contact:
ir@overstock.com