Overstock Reiterates Key Attributes of its Digital Voting Series A-1 Preferred Stock, OSTKO

SALT LAKE CITY, June 04, 2020 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) distributed a stockholder dividend paid in shares of its Digital Voting Series A-1 Preferred Stock, OSTKO, on May 19, 2020. Since that issuance, the company has received numerous questions from investors regarding the Digital Voting Series A-1 Preferred Stock and is reiterating its key attributes in response to those questions, which have been previously disclosed in stockholder materials in connection with the dividend.

Shares of the Digital Voting Series A-1 Preferred Stock:

• are preferred shares of Overstock.com, Inc.
• have equivalent voting rights to common shares of Overstock.
• have an equivalent liquidation preference to common shares of Overstock.
• have a preferential right to an annual cash dividend of $0.16 per share, when declared, which has been paid in each of the last three years.
• are required to trade on the tZERO ATS, in accordance with the stock’s Certificate of Designation as filed with the State of Delaware and included in Overstock’s filings with the Securities and Exchange Commission (SEC).

In order to trade the Series A-1 shares in compliance with the Certificate of Designation, investors must open or have a brokerage account with a tZERO ATS-subscribing broker-dealer, or with a broker-dealer that maintains an account with a tZERO ATS-subscribing broker-dealer.

Instructions for creating an account with a subscribing broker dealer can be found on the company’s FAQ page. Broker-dealers interested in subscribing to the tZERO ATS should contact the Overstock investor relations team at [e-mail].

Investor Notice
Investors should note that trading digital securities 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. Further, an investment in single digital security could mean lack of diversification and, consequently, higher risk.

No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by Overstock or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.