“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.”
Overstock shareholders as of record date April 27, 2020, will receive the dividend, which will be distributed on a 1:10 basis in shares of OSTKO on May 19, 2020.
The company said that its Series A-1 shares had 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.com, an online retailer and technology company based in Salt Lake City, Utah, has been a champion in the blockchain industry, being the parent company of tZERO and other technology start-ups. Overstock, which started as an online retailer, was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures.
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