Overstock Distributes Digital Dividend to Shareholders as Scheduled

Over 4 million shares of OSTKO now in the float 

SALT LAKE CITY, May 19, 2020 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announces that it has successfully completed the issuance of its Digital Voting Series A-1 Preferred Stock (“Series A-1”) (OSTKO) digital dividend on May 19, 2020, as expected.

The dividend was issued in Series A-1 shares on a 1:10 basis to all Overstock shareholders as of the record date of April 27, 2020. Overstock distributed the dividend shares though its transfer agent, Computershare, to investors’ brokerage or other custodial accounts in which they hold their Overstock securities, and no action by shareholders was necessary for them to receive the dividend.

“I’m pleased we have paid this innovative dividend to our shareholders,” said Overstock CEO Jonathan Johnson. “These preferred shares have real value, and have been paid a cash dividend in each of the last three years. We believe they will increase participation and long-term liquidity on the tZERO ATS platform. I appreciate the support and cooperation of the investment community and regulators in our efforts to innovate in the capital markets through new technology.”

Investors can freely trade the Series A-1 shares on the tZERO ATS by opening a brokerage account with a broker-dealer that subscribes to the tZERO ATS and executes trades in the Series A-1 shares. Investors can open an account by following the instructions published on our Dividend FAQ page on our website. The tZERO ATS team continues to work diligently to onboard additional broker-dealers to have them subscribe directly to the tZERO ATS to trade the Series A-1 shares.

“The Certificate of Designation for the Series A-1 limits trading of the security to the tZERO ATS,” continued Johnson. “All interested financial institutions should comply with those provisions. We invite these financial institutions to subscribe to the tZERO ATS or open an account with an existing broker-dealer subscriber.”

The company continues to provide detailed information on the dividend, including answers to frequently asked questions (FAQs), on its website. For questions regarding account setup go to our Dividend FAQ page on our website. For questions regarding the tZERO ATS, contact [e-mail]. For all other questions, please contact the Overstock Investor Relations team at [e-mail].