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SALT LAKE CITY, May 21, May 21, 2020 (GLOBE NEWSWIRE via COMTEX) — Series A-1 shares appropriate to be traded on the tZERO ATS
On May 19, 2020, Overstock.com, Inc. (NASDAQ:OSTK) paid a allotment to stockholders of almanac as of April 27, 2020 in the anatomy of shares of Digital Voting Series A-1 Preferred Stock, OSTKO, which is registered with the Balance Exchange Commission beneath the Balance Act of 1933.
“It has appear to the company’s absorption that shares of Series A-1 Preferred Stock are actuality awash on platforms added than the another trading arrangement (ATS), operated by tZERO ATS, LLC,” said Overstock Chief Executive Officer Jonathan Johnson. “These transfers are in abuse of the alteration restrictions imposed on the Series A-1 Preferred Stock by the Certificate of Designation. Overstock is because all options, including acknowledged action, to stop sales of shares of Series A-1 Preferred Stock in abuse of the alteration restrictions.”
Section 12(a) of the Certificate of Designation, which was accustomed by Overstock stockholders in February 2020, states, “Shares of Series A-1 Preferred cannot be awash except through an another trading arrangement operated by tZERO ATS, LLC, a broker-dealer registered with the U.S. Balance and Exchange Commission and a affiliate of FINRA and SIPC.”
Subject to bound exceptions, shares of Series A-1 Preferred Stock can alone be awash through the ATS operated by tZERO ATS, LLC, a broker-dealer registered with the SEC.
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In adjustment to barter the Series A-1 shares in acquiescence with the Certificate of Designation, investors charge accessible or acquire a allowance annual with an ATS-subscribing broker-dealer, or with a broker-dealer that maintains an annual with an ATS-subscribing broker-dealer.
Investors should agenda that trading the Series A-1 shares could absorb abundant risks, including no agreement of returns, costs associated with affairs and purchasing, no affirmation of clamminess which could appulse the amount and adeptness to sell, and accessible accident of arch invested.
No Offer, Solicitation, Advance Admonition or Recommendations
This columnist absolution is for advising purposes alone and does not aggregate an action to sell, a address to buy, or a advocacy for any security, nor does it aggregate an action to accommodate advance advising or added casework by Overstock or any of its affiliates, subsidiaries, officers, admiral or employees. No advertence to any specific aegis constitutes a advocacy to buy, advertise or authority that aegis or any added security. Nothing in this columnist absolution shall be advised a address or action to buy or advertise any security, future, advantage or added cyberbanking apparatus or to action or accommodate any advance admonition or annual to any being in any jurisdiction. Nothing independent in this columnist absolution constitutes advance admonition or offers any assessment with annual to the adequacy of any security, and the angle bidding in this columnist absolution should not be taken as admonition to buy, advertise or authority any security. In advancing the admonition independent in this columnist release, we acquire not taken into annual the advance needs, objectives and cyberbanking affairs of any accurate investor. This admonition has no attention to the specific advance objectives, cyberbanking bearings and accurate needs of any specific almsman of this admonition and investments discussed may not be acceptable for all investors. Any angle bidding in this columnist absolution by us were able based aloft the admonition accessible to us at the time such angle were written. Changed or added admonition could account such angle to change. All admonition is accountable to accessible correction. Admonition may bound become capricious for assorted reasons, including changes in bazaar altitude or bread-and-butter circumstances.
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 banker and technology aggregation based in Salt Lake City, Utah. Its arch e-commerce website sells a ample ambit of new home articles at low prices, including furniture, decor, rugs, bedding, home improvement, and more. The online arcade site, which is visited by tens of millions of barter a month, additionally appearance a exchange accouterment barter admission to millions of articles from third-party sellers. Overstock was the aboriginal above banker to acquire cryptocurrency in 2014, and in the aforementioned year founded Medici Ventures, its wholly endemic accessory committed to the development and dispatch of blockchain technologies to adjust capital, annihilate middlemen, and
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